BT Sport has agreed to form a joint venture with Warner Bros Discovery, bringing together television rights to show the Premier League, Champions League and the Olympics in the UK and Ireland.
In February of this year, BT admitted to being in 'exclusive talks' with the US company over a plan to join together BT Sport and Discovery-owned channel Eurosport and have now reached a deal worth as much as £633million to the telecoms giant. As part of this fresh partnership, the two channels will join forces to broadcast sports such as football, tennis and rugby.
A 50:50 joint venture is how the responsibility will be shared to begin with. BT will receive an initial £93m payment in instalments over three years after completion of the deal, with a further £540m up for grabs depending on the successfulness of the project over a four-year period.
