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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why Discovery Shares Are Trading Higher Today

Discovery United Kingdom Eurosport BT Sport Nasdaq DISCA BT Group
  • Discovery Inc (NASDAQ:DISCA) (NASDAQ:DISCK) confirmed discussions with BT Group to create a new sports venture in the U.K. by combining its Eurosport business in the U.K. and Ireland with BT Sport. 
  • The companies aim for the 50:50 Joint Venture to be operational in 2022, pending a definitive agreement and regulatory approval.
  • The proposed U.K. venture would bring together BT Sport and Eurosport U.K., which have extensive portfolios of premium sports rights.
  • Discovery forayed into the global sports media business in 2014 with its acquisition of Eurosport. 
  • Price Action: DISCA shares traded higher by 4.21% at $28.86 on the last check Thursday.
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