27 JULY, 2022 - DISCOVERY SPORTS PRESS ROOM: Warner Bros. Discovery Sports represents WBD's portfolio of sports brands, channels and platforms. It collectively reaches 130 million people every month, engaging fans and broad audiences in more than 200 markets and in over 20 languages across all platforms where consumers are spending time -free-to-air TV, pay-TV, streaming, online and social. 
WBD Sports includes the much-loved consumer brands Eurosport, Global Cycling Network (GCN), Global Mountain Bike Network (GMBN), Golf Digest and GOLFTV powered by PGA TOUR, as well sports programming and content on discovery+ and Discovery’s free-to-air TV networks. 
Connecting audiences to the greatest sporting events in the world

WBD's consumer brands are proud to connect audiences with the greatest sporting events in the world. This includes being the Home of the Olympics Games in Europe; tennis’ Grand Slams; cycling’s Grand Tours and more than 300 days racing a year; the PGA TOUR year-round; the best new and existing electric racing series with ABB FIA Formula E World Championship and FIA eTouring Car World Cup; and every major winter sports World Championship and World Cup event. Warner Bros. Discovery Sports completes a full 360 offer with its events management and promotion arm, Discovery Sports Events.
Following submission to the Competition and Markets Authority (CMA), BT Group and Warner Bros. Discovery today welcomed the decision to approve the BT Group agreement with Warner Bros. Discovery, Inc. to form a 50:50 Joint Venture (JV) company that will create a new sports offering for the UK & Ireland.     
The CMA’s decision now allows BT and Warner Bros. Discovery to complete the creation of the JV  in the coming weeks and for each of their assets to be transferred into the new company.  BT Sport and Eurosport UK will be brought together to form a sports joint venture for customers, providing the JV with one of the most extensive portfolios of sports rights in the UK & Ireland. Both BT Sport and Eurosport UK will initially retain their separate brands and product propositions in the market before being brought together under a single brand in the future. 
Marc Allera, future Chairman of the JV and CEO BT’s Consumer division said “It’s great news that the CMA has approved the new JV that we are forming with Warner Bros. Discovery, combining the very best of BT Sport and Eurosport UK, to create an exciting new offer for live sport programming in the UK. Today is a huge milestone, as we now look toward day one of the new business, which we hope to be in the coming weeks.”    
Andrew Georgiou, future board member of the JV and President and Managing Director, Warner Bros. Discovery Sports Europe, said “Combining the capabilities, portfolios and scale of BT Sport and Eurosport UK will be a big win for fans in the UK & Ireland, offering a new destination that will feature all the sport they love in one place. We now look forward to closing the transaction and having the opportunity to further engage all stakeholders in the process of forming and developing the JV."
The Board of Directors of the JV will be equally represented between appointees of British Telecommunications plc and Warner Bros. Discovery. The first Chairperson to be appointed, nominated by each shareholder on a rotating basis, will be Marc Allera, CEO BT’s Consumer division. The new management and delivery of the JV will be led by Andrew Georgiou, President and Managing Director, Warner Bros. Discovery Sports Europe, who will be a member of its board.

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