BT Group and Discovery negotiating sports joint ventureThursday, February 3rd, 2022
BT Group enters exclusive negotiations with Discovery, Inc. to create new sports joint venture
Following a detailed process to identify the best way to generate investment and strengthen our Sports business, BT Group today announced that it has entered exclusive discussions with Discovery, Inc. on a deal to create a new sport and entertainment offering for customers in the UK.
The new business would be a 50/50 joint venture, bringing together BT Sport with Eurosport UK. The new combined business would remain committed to retaining BT Sport’s existing major sports broadcast rights while BT Sport customers would get access to Discovery’s sport and entertainment content, including the discovery+ app.
BT Group are aiming to conclude the exclusive discussions with Discovery, Inc. in early Q1 for the new company to be operational later this year, subject to completion of the deal and approval by the relevant competition authorities.
Marc Allera, CEO BT Consumer, said: “The proposed joint venture with Discovery, Inc. would create an exciting new sports broadcasting entity for the UK and would act as a perfect home for our BT Sport business. With a shared ambition for growth, as well as the combination of our world class sports assets along with Discovery’s premium sports and entertainment content, our customers will benefit from even more content in more places.”