Telecoms company BT has agreed terms with media group Warner Bros. Discovery on the formation of a joint venture company in the UK and Ireland to combine pay-television broadcaster BT Sport with the latter’s sports broadcaster, Eurosport UK.
According to the terms of the agreement unveiled this morning, Warner Bros. Discovery will have the right to exercise a call option to acquire the entire shareholding of BT in the joint venture. The call option can be exercised at specified points during the first four years and is subject to certain conditions and arrangements.