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    BT.A   GB0030913577

BT GROUP PLC

(BT.A)
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Delayed London Stock Exchange  -  11:35 2022-08-12 am EDT
157.90 GBX   -0.06%
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BT Secures UEFA Champions League Rights for Three Seasons at GBP305 Million a Year

07/01/2022 | 04:32am EDT

By Kyle Morris


BT Group PLC said Friday that it has secured the rights to broadcast the majority of the UEFA Champions League soccer matches and all UEFA Europa League games and UEFA Europa Conference League games exclusively live for a further three seasons at 305 million pounds ($371.4 million) a year.

The U.K. telecom company said BT Sport will show the new format of the three European competitions from 2024. It expects to pay a deposit of around GBP61 million in July 2022.

The sports joint venture between BT Group and Warner Bros. Discovery will pay the rights costs less the deposit, BT said.

BT said the outlook for fiscal 2023 remains unchanged.

Following completion of the sports joint venture with Warner Bros. Discovery, it expects group revenue to reduce by GBP0.5 billion-GBP0.6 billion a year relative to fiscal 2022. It doesn't see a material impact on fiscal 2023 adjusted earnings before interest, taxes, depreciation, and amortization.

"BT Sport continues to be the home of the UEFA Club Competitions until 2027," BT's Consumer Division's Chief Executive Marc Allera said.

Shares in BT Group at 1010 GMT were down 1.10 pence, or 0.6%, at 185.20 pence.


Write to Kyle Morris at kyle.morris@dowjones.com


(END) Dow Jones Newswires

07-01-22 0632ET

Stocks mentioned in the article
ChangeLast1st jan.
BT GROUP PLC -0.06% 157.9 Delayed Quote.-6.87%
WARNER BROS. DISCOVERY, INC. 0.00% 13.68 End-of-day quote.-41.89%
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Analyst Recommendations on BT GROUP PLC
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Financials
Sales 2023 20 982 M 25 437 M 25 437 M
Net income 2023 1 825 M 2 213 M 2 213 M
Net Debt 2023 18 747 M 22 727 M 22 727 M
P/E ratio 2023 8,43x
Yield 2023 4,94%
Capitalization 15 529 M 18 825 M 18 825 M
EV / Sales 2023 1,63x
EV / Sales 2024 1,65x
Nbr of Employees 98 400
Free-Float 69,4%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 157,90 GBX
Average target price 221,27 GBX
Spread / Average Target 40,1%
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Managers and Directors
Philip Eric Rene Jansen Chief Executive Officer & Executive Director
Simon Jonathan Lowth Chief Financial Officer & Executive Director
Adam Alexander Crozier Chairman
Howard Watson Chief Technology Officer
Chris Bilton Director-Research & Technology
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