- BT Group Plc's (OTC:BTGOF) £633 million ($797 million) sports TV joint venture with Warner Bros Discovery, Inc (NASDAQ:WBD) is subject to antitrust scrutiny from the U.K.'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.
- Price Action: WBD shares traded lower by 0.27% at $18.50 in the premarket on the last check Wednesday.
