DISCB - Discovery gains 3% as it discusses BT Sport joint venture in UK Ireland

Discovery (NASDAQ:DISCA) is up 3.3% in a tough market after confirming it's in exclusive talks with BT Group (OTCPK:BTGOF) to create a sports joint venture in the UK and Ireland. The companies would combine Discovery's Eurosport business in the two countries with BT Sport, in a 50/50 joint venture. That establishes a venture with an extensive portfolio of sports rights including the Olympic Games, Premier League, UEFA Champions League, UEFA Europa League, cycling Grand Tours, tennis Grand Slams, the winter sport World Cup season and Premiership Rugby. Discovery made a heavy move on the continent with its 2014 acquisition of Eurosport, and its overall international sports operation serves 130 million individuals across more than 200 markets and 20 languages. The two companies hope to have the venture up this year following a definitive deal and regulatory approvals.

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Discovery gains 3% as it discusses BT Sport joint venture in UK, Ireland