United Kingdom: transaction complete for the creation of the BT Sport/Eurosport UK joint venture

The media and entertainment conglomerate Warner Bros. Discovery and the British telecommunications operator BT Group have formally completed the transaction to create the BT Sport/Eurosport UK joint venture in the UK and Ireland, announced the two entities on 01/09/2022.

The "BT Sport and Eurosport UK assets" are "now transferred into the new combined joint venutre. As work begins to develop the new sports offering for the UK & Ireland, BT Sport and Eurosport UK will retain their separate product propositions for a period of time. BT Sport and Eurosport UK customers can continue to enjoy the current sport offerings in all the same ways they do currently. Over time, the intention is to launch a new sports brand in the market and present this combined sports offering together with an entertainment offering from Warner Bros. Discovery," explained the conglomerate.

Warner Bros. Discovery and BT Group entered into a definitive agreement to create the BT Sport/Eurosport UK joint venture in the UK and Ireland on 12/05/2022. The UK Competition and Markets Authority (CMA) approved the…