BT Group has agreed to form a new sports joint venture with Warner Bros Discovery in the UK and Ireland.
The telecoms giant confirmed the deal as it also reported that trading is 'on the right track' despite a dip in revenues for the past year. In February, BT said it was in exclusive negotiations with the US media giant after completing a lengthy review of its BT Sport operation.
It confirmed it will now form a 50-50 joint venture which will bring together BT Sport and Eurosport.
The venture could see events such as the Olympics, Premier League football, Champions League football, Grand Slam tennis, cycling Grand Tours and Premiership Rugby all on one entity.