Warner Bros. Discovery and British telecom giant BT Group have confirmed plans to form a 50-50 joint venture, creating a new premium sport offering for the UK and Ireland. This will see the transfe…
The JV’s portfolio of premium sports rights will include UEFA’s Champions League and Europa League, Premier League matches, Premiership Rugby, UFC, the Olympic Games, tennis Grand Slams 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.Johanna Fuentes Departs As Head of Global Communications Studios & Networks Group At Warner Bros.
Warner Bros Discovery and BT will each directly contribute, sub-license or deliver the benefit of their respective sports rights and distribution agreements for the UK and Ireland to the JV, the companies said. At completion of the transaction, the production and operational assets of BT Sport will transfer to, and become a wholly owned subsidiary of, Warner Bros Discovery.
As part of the transaction, BT and Warner Bros Discovery will each enter into distribution agreements with the JV to become the official UK distributor of the JV’s sports channels across both sets of platforms. BT’s agreement with will extend beyond 2030, and for the first four years, includes a minimum annual revenue guarantee of approximately £500M , after which the agreement will change to a fully variable arrangement.
Both BT Sport and Eurosport UK will initially retain their separate brands and product propositions before being brought together under a single brand in the future.
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