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Re: ESPN, BT, Euro, Premier and Sky Sports news
BT Group and Warner Bros. Discovery Agree Premium Sports Joint Venture for the UK and Ireland
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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. BT Group (through its wholly owned subsidiary British Telecommunications plc (“BT plc”)) and Warner Bros. Discovery will enter into distribution agreements with the JV under which they will distribute the combined sports content to new and existing customers on their respective platforms and apps.
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Quote:
Call Option
As part of the Transaction, Warner Bros. Discovery will have the right, but not the obligation, to exercise a call option to acquire the entire shareholding of BT plc in the JV (the “Call Option”). The Call Option will be exercisable at specified points during the first four years of the JV and is subject to certain conditions and arrangements. The price payable for 50% of the JV under the Call Option will be at a price to be determined at the time the option is exercised, plus any remaining consideration and earn-out that BT plc will be entitled to at that time (subject to certain conditions).
If the Call Option is not exercised by Warner Bros. Discovery (as detailed above), BT plc will have the ability to exit its stake in the JV either through a sale or IPO.
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https://wbd.com/bt-group-and-warner-...u-and-ireland/
Last edited by TimeLord2018; 12-05-2022 at 08:52.
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