BT IS SET to merge its sports division with Warner Bros Discovery's Eurosport in a bid to strengthen its hand in an ever-more competitive broadcasting market.

Following months of negotiation, the telecoms giant confirmed yesterday that it will now form a 50-50 joint venture with the US media giant, bringing together BT Sports and Eurosport under one umbrella in the UK and Ireland.

Under the terms of the agreement, BT will receive £93m in installments over the next three years, cashing in up to £540m in performance based payments over four years for the coverage of everything from the Premier League to Giro D'Italia cycling. It is expected that subscribers would have access to both existing firm's offerings once brought together.

Whilst BT Sport and Eurosport will continue to operate as two separate brands, it is understood they will be brought together under one single entity in the future, with BT eventually being bought out by the US giant.

BT's grand push into sport started when it secured rights to Premier League matches back in 2012, later securing Champions League games from Sky.

However, as explained by the managing Director of TMT at Edison Group Dan

Ridsdale, the tie-up provides a "new focus for investors and consumers alike" for BT.

Ridsdale said that the new offering would provide more value for customers who have started to look for ways to cut down on costs and slim down on streaming services.

Marc Allera, the chief executive of BT's consumer division, added: "In a cost-ofliving crisis what is important to offer is great value for money."

(c) 2022 City A.M., source Newspaper