BT Considers Sale of TNT Sports Stake to Warner Bros Discovery
BT is in advanced negotiations to sell its 50% stake in TNT Sports to Warner Bros Discovery. This move would conclude BT's decade-long involvement in sports broadcasting. The potential deal is part of broader media industry shifts focusing on streaming and studios amid challenges in the cable TV sector.
BT is reportedly in the final stages of discussions to sell its 50% stake in British broadcaster TNT Sports to its U.S. joint venture partner, Warner Bros Discovery, according to a recent Financial Times article.
The expected deal, which could be publicized as soon as next week, represents a strategic shift for BT, as it moves away from sports broadcasting after over ten years in the industry. Warner Bros Discovery holds an option to acquire BT's stake before 2026.
The potential sale reflects the evolving landscape of media companies that are facing declines in cable TV and are consequently focusing more on streaming and studio ventures. Notably, Warner Bros Discovery plans to introduce its HBO Max service to several European countries by 2026.
(With inputs from agencies.)
ALSO READ
Govt asks OTT, media streaming platforms to stop Pakistan-origin web-series, films, content with immediate effect.
Inglewood Welcomes Hollywood Park Studios for LA28 Games
Bong Joon Ho’s Sci-Fi Thriller 'Mickey 17' Set for Global Streaming Debut
ITV Studios Powers Growth Amid Possible US Trade Tariffs
Cannes Film Festival Sparks Headlines from Celebrity Scandals to Global Streaming Wars
Google News