BT Set to Exit TNT Sports: A Shift in Sports Broadcasting
BT is in advanced discussions to sell its 50% stake in the British broadcaster TNT Sports to its U.S. partner Warner Bros Discovery. This move would mark the end of BT's over-decade-long involvement in sports broadcasting. The deal, possibly announced next week, highlights shifting strategies among media companies towards streaming and studio growth.
BT Group is reportedly in the final stages of negotiations to offload its 50% stake in TNT Sports to Warner Bros Discovery, their joint venture partner, according to a Financial Times report on Saturday.
The deal, potentially set to be disclosed as early as next week, would conclude BT's long-standing foray into sports broadcasting, as WBD considers utilizing its option to purchase BT's share ahead of the 2026 deadline. Reuters has not validated the report independently.
This development comes amid a broader trend within the media sector, where companies are reassessing their cable television ventures and intensifying their focus on burgeoning streaming services and content production. Warner Bros Discovery is slated to roll out its HBO Max service in select European countries by 2026.
(With inputs from agencies.)
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