Warner Bros. Discovery and BT Group have completed their transaction to form a 50:50 Joint Venture (JV) that combines the assets of BT Sport and Eurosport UK.

The move brings together live sports in the UK & Ireland including the Olympic Games, the Premier League, UEFA Champions League, UEFA Europa League, the Premier League, Premiership Rugby, MotoGP, UFC, Boxing, WWE, tennis Grand Slams, cycling Grand Tours and the winter sports World Cup season.

4. Warner Bros and BT

Warner Bros. Discovery and BT Group finalise joint transaction to form a 50:50 Joint Venture (JV)

BT Sport and Eurosport UK will retain their separate product propositions for a period of time.

Launching a new sports brand

Over time, the intention is to launch a new sports brand in the market and to present this combined sports offering together with an entertainment offering from Warner Bros. Discovery.

The deal was officially announced in May.

Marc Allera, chairman of the JV and CEO BT’s Consumer division said: “As we enter our ninth season, today is day one of an exciting new chapter for BT Sport. I am extremely proud of the teams and the established brand and broadcaster that BT Sport has become, and I look forward to working with Warner Bros. Discovery to create an exciting new sport TV offering for the UK.

Andrew Georgiou, board member of the JV and president and managing director, Warner Bros. Discovery Sports Europe, said: “Today marks the start of our journey to build a new sports destination for fans in the U.K and Ireland. Combining BT Sport and Eurosport U.K. together with Warner Bros. Discovery’s world-class and growing entertainment offering will result in an exciting new proposition for consumers.”

The JV’s board of directors is equally represented between appointees of BT and Warner Bros. Discovery.

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