(Alliance News) - BT Group PLC is close to agreeing a deal to sell its sports broadcasting arm to streaming service DAZN, Reuters reported late Wednesday.
The deal is worth roughly USD800 million, Reuters added. The FTSE 100 firm's BT Sport arm has highly sought after rights to broadcast England's Premier League as well as the Champions League, Europe's elite club football competition.
Reuters reported that a deal could be reached as soon as this month. Citing sources, the news agency added that talks could still fall through.
https://www.reuters.com/business/media-telecom/exclusive-dazn-nears-deal-buy-bt-sport-an-estimated-800-mln-sources-2022-01-12/
In December, the Telegraph newspaper reported that Discovery Communications Inc offered to create a joint venture with BT for UK sports broadcasting.
DAZN is majority-owned by investment firm Access Industries Inc, which also holds a stake in Warner Music Group.
BT shares were 1.3% higher at 176.90 pence each in London on Thursday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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