Warner Bros. Discovery close to buying BT’s stake in TNT Sports U.K.

Warner Bros. Discovery is reportedly nearing a deal to acquire the remaining 50% stake in TNT Sports U.K. from BT Group. The two companies formed the sports broadcaster as a joint venture in 2022.

TNT Sports U.K. was created by merging BT Sport with Warner Bros. Discovery’s Eurosport U.K. operations. The joint entity was integrated into the Discovery+ streaming platform, offering access to sports content including the Premier League, UEFA Champions League, FA Cup, MotoGP and the Olympic Games.

Eurosport no longer operates separately in the U.K.

According to reporting from the Financial Times, Warner Bros. Discovery is prepared to exercise its contractual option to buy out BT’s stake ahead of the agreement’s expiration at the end of 2026. If the option is not exercised, BT would have the right to sell its interest to another party or initiate a public offering.

The acquisition is expected to be timed with the publication of BT’s full-year financial results. Warner Bros. Discovery is also preparing to launch its HBO Max streaming service in the U.K. in 2026 after its distribution agreement with Sky concludes.

TNT Sports U.K. is distinct from Warner Bros. Discovery’s similarly named TNT Sports unit in the United States.

BT Sport began operating in 2013 and competed directly with Sky Sports.

A previous acquisition attempt by DAZN was unsuccessful, leading to the formation of the joint venture with Warner Bros. Discovery as a compromise for BT to reduce its media commitments.

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