City Of London
BT Unveils £633 Million Sport Deal With Warner Bros Discovery
- Warner Bros to get a call option to buy out BT’s interest
- BT has broadcast rights to the European Champions League
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BT Group Plc set out a route to sell pay-TV unit BT Sport to American media giant Warner Bros Discovery Inc., cementing a reversal after its high-profile entry into football rights a decade ago.
Alongside in-line full-year results Thursday, London-based BT said it and Warner Bros. Discovery will create a new 50-50 sport TV joint venture, combining Premier League football rights with Eurosport into a new bundle that will have a single brand in the future.