BT-Warner Bros Discovery Sports Deal Invites UK Antitrust Inspection

By Benzinga
Benzinga
Benzinga
June 1, 2022 Updated: June 1, 2022

BT Group Plc’s £633 million ($797 million) sports TV joint venture with Warner Bros Discovery Inc. is subject to antitrust scrutiny from the UK’s competition watchdog, Bloomberg reports.

The Competition and Markets Authority enquired whether the transaction could raise competition concerns.

Accordingly, CMA will decide whether to move to an in-depth probe by July 28.

Previously BT disclosed creating a joint venture with Warner Bros Discovery to bundle Premier League football rights with Eurosport that will have a single brand in the future.

BT looks to transfer its pay-TV operating businesses to the U.S. firm and receive £93 million cash upfront and £540 million earn-out. Warner Bros will then get a call option to buy out BT’s interest in the business.

By Anusuya Lahiri 

© 2022 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

Benzinga