BT Sells TNT Sports Stake to Warner Bros Discovery: BT is close to finalizing a deal to sell its 50% stake in TNT Sports to Warner Bros Discovery. This move would end BT’s long involvement in sports broadcasting. Talks are in an advanced stage, and a deal may be announced next week.
The timing may shift depending on how discussions proceed. The decision comes as BT shifts focus back to core telecom services. Warner Bros Discovery already holds the other 50% and plans to expand its streaming presence in Europe, where sports will play a key role.
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BT Sells TNT Sports Stake to Warner Bros Discovery: Insights
- BT sells TNT Sports stake to Warner Bros Discovery, ending a decade of sports broadcasting.
- A deal announcement may coincide with BT’s full-year results next week.
- Warner Bros Discovery aims to boost its streaming service with live sports.
- BT has marked sports broadcasting as non-core under new CEO Allison Kirkby.
- TNT Sports has the rights to Premier League and UEFA Champions League matches.
- BT’s sports unit reported a £187.5 million pre-tax loss in 2024.
- TNT Sports was formed in 2022 after BT merged with Eurosport UK.
- The joint venture’s book value is over £750 million, but deal terms may be lower.
Background
BT entered the sports media scene in 2012 to compete with Sky. It spent heavily on acquiring exclusive football rights. The idea was to attract more broadband and mobile customers. In 2022, BT merged its sports division with Eurosport UK to form TNT Sports. However, TNT soon became a financial burden.
Intense competition from Sky and Amazon made it harder to justify high costs. Under CEO Allison Kirkby, BT is shifting back to its core business. Now, BT sells TNT Sports stake to exit the struggling sector.
Main Event
According to people familiar with the matter, BT sells its TNT Sports stake to Warner Bros Discovery in an ongoing deal. The announcement could come as early as next week, though discussions are still in progress. BT’s move would fully exit the telecom giant from the sports media market after over ten years. The joint venture allowed BT to stream Premier League games and other major competitions.
Warner Bros Discovery already holds an option to buy out BT’s share before the end of 2026. Taking full control would let the company direct TNT Sports as part of its broader media plan. The US-based company is preparing to launch its HBO Max streaming platform across several European countries in 2026.
Live sports will be a major attraction on the new service, along with HBO shows like “Succession” and the “Harry Potter” series.
Financially, TNT Sports has weighed on BT. In 2024, the business posted a £187.5 million pre-tax loss. Though BT’s books list it at over £750 million, insiders suggest the actual sale price will be much lower. Still, the deal allows BT to cut losses and focus on mobile and broadband.
BT sells TNT Sports stake in line with a clear shift in company priorities. BT, TNT, and Warner Bros Discovery have declined to comment on the deal.
BT’s logo stands as the telecom giant finalizes talks to sell its TNT Sports stake to Warner Bros Discovery.
Photo Credits: Getty Images.
Implications
When BT sells its TNT Sports stake, the impact spreads across telecom, media, and sports. For BT, it means a leaner focus on broadband and mobile. The company can now invest more in its core services. Warner Bros Discovery gains control of TNT Sports and strengthens its streaming lineup.
Sports fans may see more matches online, especially with HBO Max coming to Europe. The UK media industry could see more consolidation as traditional TV models struggle. Analysts believe this marks a major shift in how live sports are packaged and delivered to audiences.
Conclusion
The news that BT sells its TNT Sports stake signals a major change in the UK media landscape. With streaming taking over, sports content is shifting platforms. BT steps away from a risky venture, while Warner Bros Discovery moves ahead with big plans for Europe.
As the deal closes, experts expect more telecom and media companies to reshape their business models around digital growth.
