6th Dec 2021 13:56
(Alliance News) - Discovery Communications Inc has offered to create a joint venture with BT Group PLC for UK sports broadcasting, potentially disrupting a GBP600 million sale of BT Sport to DAZN, the Telegraph newspaper reported on Saturday citing "City sources".
The Financial Times on Sunday said "multiple people familiar with the talks" confirmed the Telegraph story.
BT Sport has rights to screen English Premier League and European Champions League football in the UK, while Discovery has a deal to show the Olympic Games in Europe.
DAZN is majority-owned by investment firm Access Industries Inc, which also holds a stake in Warner Music Group. It is backed by billionaire Leonard Blavatnik, the Telegraph noted.
Discovery is a New York-based television channel operator, the owner of the Eurosport channels.
https://www.telegraph.co.uk/business/2021/12/04/discovery-muscles-sale-bt-sport/
https://www.ft.com/content/33f4b1f5-caad-4687-bb05-4375c3393c93
Discovery were up 0.3% to USD24.07 in the New York pre-market on Monday. It has a market capitalisation of USD12 billion. BT shares were up 1.4% to 171.00 pence in London. It has a GBP16.72 billion market cap.
By Tom Waite; [email protected]
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