BT Group and Warner Bros. Discovery have welcomed the decision to approve a 50:50 Joint Venture (JV) company that will create a new sports offering for UK & Ireland.
The Competition and Markets Authority (CMA)’s decision allows BT Sport and Eurosport UK to be brought together to form a sports joint venture, providing one of the most extensive portfolio of rights in the UK & Ireland. The CMA’s decision now allows BT and Warner Bros. Discovery to complete the creation of the JV in the coming weeks and for each of their assets to be transferred into the new company.
Both BT Sport and Eurosport UK will initially retain their separate brands and content propositions before being brought together under a single brand in the future.
“It’s great news that the CMA has approved the new JV that we are forming with Warner Bros. Discovery, combining the very best of BT Sport and Eurosport UK, to create an exciting new offer for live sport programming in the UK,” said Marc Allera, future Chairman of the JV and CEO BT’s Consumer division.
“Today is a huge milestone, as we now look toward day one of the new business, which we hope to be in the coming weeks.”
The new joint venture will bring audiences a compelling collection of rights including UEFA Champions League, UEFA Europa League, the English Premier League, Premiership Rugby, UFC, the Olympic Games, tennis Grand Slams featuring the Australian Open and Roland-Garros, cycling Grand Tours including the Tour de France and Giro d’Italia and the winter sports World Cup season.
“Combining the capabilities, portfolios and scale of BT Sport and Eurosport UK will be a big win for fans in the UK & Ireland, offering a new destination that will feature all the sport they love in one place,” said Andrew Georgiou, future board member of the JV and President and Managing Director, Warner Bros. Discovery Sports Europe.
“We now look forward to closing the transaction and having the opportunity to further engage all stakeholders in the process of forming and developing the JV.” BCS Bureau