Discovery & BT in JV Talks

Discovery, Inc. has entered into exclusive discussions with BT Group to create a new sports venture in the U.K. through the combination of its Eurosport business in the U.K. and Ireland with BT Sport.

The companies are aiming for the 50:50 joint venture to be operational in 2022, pending a definitive agreement and regulatory approval.

The proposed U.K. venture would combine BT Sport and Eurosport UK, which hold sports rights for the Olympic Games, Premier League, UEFA Champions League, UEFA Europa League, cycling Grand Tours, tennis Grand Slams, the winter sports World Cup season and Premiership Rugby.

“We are excited about this opportunity with BT Group to offer consumers a stronger and simplified combined sport offering in the U.K. and Ireland, and, more broadly, to advance our strategy of bringing sports and entertainment to more consumers on the platform of their choice,” said JB Perrette, president and CEO of Discovery Streaming & International. “We are aligned with BT Group on a shared vision to maximize the value and appeal of our respective U.K. sport assets, and we look forward to concluding a deal in the coming weeks.”