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Discovery, BT in Deal for British Sports Joint Venture – The Hollywood Reporter #Discovery #Deal #British #Sports #Joint #Venture #Hollywood #Reporter Welcome to TmZ Blog, here is the new story we have for you today:
Warner Bros. Discovery and British telecom giant BT Group have wrapped deal talks and will merge their sports media units BT Sport and Eurosport in the U.K. and Ireland in a 50/50 joint venture.
When the two parties unveiled exclusive discussions about a deal in February, Discovery, before the completion of its merger with WarnerMedia, said that the venture “would bring together BT Sport and Eurosport U.K., which have extensive portfolios of premium sports rights, including the Olympic Games, the Premier League, UEFA Champions League, UEFA Europa League, cycling Grand Tours, tennis Grand Slams, the winter sport World Cup season and Premiership Rugby.”
The goal was to conclude the discussions early in the second quarter and “for the new company to be operational later this year, subject to completion of the deal and approval by the relevant competition authorities.”
The companies announced that customers who access BT Sport through BT directly, and the majority of BT TV customers, are set to receive the streaming service discovery+ home to Eurosport’s live and on-demand streaming offer in the UK & Ireland, as part of existing subscriptions.
BT, which has rights deals for the likes of English Premier League soccer, English Premiership Rugby and cricket, said last spring that it wanted to focus on its core telecommunications business and was in negotiations with potential partners over the future of BT Sport. Sports streamer DAZN, whose chairman is former Walt Disney Co. top executive Kevin Mayer and whose parent company is Len Blavatnik’s Access Industries, was widely seen as a potential buyer of BT Sport. Reports previously also said that Disney, Amazon and U.K. TV giant ITV were among other potential suitors.