Discovery, Bt Sport Set For UK Joint Venture
According to multiple reports, BT Group and Discovery have entered exclusive negotiations to establish a 50-50 joint venture in the UK that would bring together BT Sport and Eurosport to form a sports-media powerhouse.
Talks are expected to be concluded in the first quarter of 2022, with the new company becoming operational later this year, subject to approvals.
The deal would create a major rival to pay-television broadcaster Sky Sports, the long-time dominant force in UK sports media.
News of the exclusive discussions will represent a blow for streaming service DAZN, which had been in talks to acquire BT Sport to strengthen its positioning in the UK.
BT Sport broadcasts the Premier League, while the joint venture would also hold rights for the Olympic Games, UEFA Champions League (pictured) and Europa League, Premiership Rugby, tennis Grand Slams, cycling’s Grand Tours and the winter sports World Cup season.
BT Consumer CEO, Marc Allera, 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.”
Eurosport’s international business was acquired by Discovery in 2014.
JB Perrette, President and CEO of Discovery Streaming and International, said, “We are excited about this opportunity with BT Group to offer consumers a stronger and simplified combined sport offering in the UK and Ireland, and, more broadly, to advance our strategy of bringing sports and entertainment to more consumers on the platform of their choice.
“We are aligned with BT Group on a shared vision to maximize the value and appeal of our respective UK sport assets, and we look forward to concluding a deal in the coming weeks.”
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