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Warner Bros. Discovery & BT Sport Close Joint Venture Transaction – Deadline

The transaction for Warner Bros Discovery and BT Sport’s joint UK and Ireland sports activities enterprise has closed efficiently.

The conglomerates introduced they might mix just a few months in the past when a deal for Dazn to amass BT Sports fell by way of, and BT Sport and its subsidiary Eurosport UK’s belongings have now been transferred into the mixed 50/50 JV.

As work begins to develop the brand new sports activities providing for the UK & Ireland, BT Sport and Eurosport UK might be separate for a time frame earlier than a brand new sports activities model is launched, combining David Zaslav’s Warner Bros. Discovery and BT.

The new powerhouse will carry collectively the may of two sports activities juggernauts, with the likes of the Olympic Games, the Premier League, UEFA Champions League, UEFA Europa League, the Premier League, Premiership Rugby, MotoGP, UFC, Boxing and WWE on supply.

BT Consumer Division CEO Marc Allera will chair the as-yet-unnamed JV.

“As we enter our ninth season, today is day one of an exciting new chapter for BT Sport,” he mentioned. “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, Warner Bros. Discovery Sports Europe President and MD, mentioned right now “marks the start of our journey to build a new sports destination for fans in the U.K and Ireland.”

Georgiou will sit on the board chaired by Allera.

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