Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

UK's BT Group in talks to divest stake in television unit - The Telegraph

Published 28/04/2021, 20:28
Updated 29/04/2021, 00:35
© Reuters. FILE PHOTO: Company's logo is displayed at British Telecom (BT) headquarters in London

(Reuters) -BT Group Plc is in talks with Amazon.com Inc (NASDAQ:AMZN), Walt Disney (NYSE:DIS) Co and sport streaming company DAZN to divest a stake in its television unit BT Sport, The Telegraph reported https:// on Wednesday.

A British broadcaster is also involved in the discussions and potentially leading the bidding, the report said, citing City sources.

BT, Britain's biggest broadband and mobile operator, moved into sports broadcasting in 2012 when it won the rights to show a package of live Premier League soccer matches.

Its current package, which cost 885 million pounds ($1.23 billion), allows to show 32 matches for three seasons from 2019-20. It also has the rights to show Champions League soccer until 2024 under a three-year 1.2 billion pound deal.

The Premier League would in normal circumstances have auctioned the next packages of domestic rights by now, but the COVID-19 pandemic has disrupted the timetable.

The Telegraph reported that the Premier League is seeking government approval to roll over the current deals, which also included Amazon.

BT, under Chief Executive Philip Jansen, is focused on its plan to rollout fibre broadband to 20 million homes and businesses this decade.

© Reuters. FILE PHOTO: Company's logo is displayed at British Telecom (BT) headquarters in London

BT Group (LON:BT) and Amazon declined to comment. Disney did not respond immediately to a Reuters request for comment.

($1 = 0.7166 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.