Yup. Sport broadcasting cost so much because the rights are locked up in an auction that grants a monopoly. So Dstv bid a lot of sport broadcasting rights because it know it can recoup it. If there are competitive pressures then they will bid less and pay less.Lots of clever people, who outbid their competition by needlessly large margins, because they needed to show they had bigger balls, than the competition.
If DSTV cannot sell enough of those exclusive rights they so gratuously buy, they they should let someone else get exclusive rights, and buy the rights, in the same way they sell rights to SABC, and similar.
Currently users are paying a premium not because of sports but because of the monopoly of broadcasting rights of sport. It is a different thing...