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BT is in advanced talks to sell 50 percent of its shares to the UK broadcaster TNT Sports for joint partner of Warner Bros Discovery, according to two people familiar with the situation.
An agreement can be announced since next week, they increased when BT is set to release its full year results. However, that time can slip depending on the way negotiations progress, one added.
The mass would end BT’s involvement in sports broadcasting after more than a decade, bringing the numerous Betting of Telecommunications Company that offering exclusive football games would win that broad -generated clients and keep existing loyal ones.
Warner Bros Discovery has an opportunity to buy BT before the end of next year. Hitting an agreement will give the US media giant better control over the future of sports channels, which are a major part of its business in Europe.
Sports will be a cornerstone of WBD transmission service when starting in the UK next year, along with HBO series such as recap AND White lotus. Platform – which was renamed this week HBO Max, rather than simply max – will show new Harry Potter series.
BT and WBD refused to comment.
The BT entered the 2012 sports market with an aggressive strategy to compete with Sky on the territory of the broadcaster’s home, matching the united TV offers, with broad generation and mobile services.
However, TNT channels that have the rights to some exclusive Premier League football games-have been identified as non-core by the chief executive of BT Allison Kirkby. Since taking over in February 2024, she has seen focusing the company on her traditional removable, broad -generation.
TNT has long been a cash flow for BT, due to increasing competition with Sky and Amazon to ensure rights for key competitions such as the Premier League. The business reserved a pre -tax loss of the 187.5m tax in the 2024 financial year, according to the accounts presented to the House of UK companies.
Joint venture is estimated at BT accounts in more than £ 750m. However, people close to the talks said that the value of the business book was not reflective of the value of the agreement, and that any agreement reached with the WBD would be significantly lower than this figure.
TNT Sports, which has the right to show other competitions including the UEFA Champions League, was created after BT joined its sports separation with Warner Discovery’s Eurosport UK business in 2022.
The company has a four -year deal to broadcast 52 live Premier League matches in the season by 2029, and a four -year deal with the football association to show the FA Cup from 2025.
