In a strategic realignment, BT is set to sell its 50% stake in TNT Sports to its joint venture partner Warner Bros Discovery. These late-stage discussions, as reported by the Financial Times, could reach a conclusion soon. This potential announcement aligns with BT’s impending full-year financial results.
BT’s journey in the sports broadcasting sector began in 2013. The launch of BT Sport was part of a broader strategy to enhance BT TV services, securing rights to key sports, including the Premier League and Premiership Rugby. Over time, the high costs associated with these rights weighed heavily on BT’s finances.
By 2022, BT was shifting focus, restructuring BT Sport into a joint venture with Warner Bros Discovery. This rebranding led to the transformation of BT Sport into TNT Sports, eventually integrating the UK division of Eurosport by early 2025. However, the service remained financially taxing, incurring a pre-tax loss of £187.6 million during the 2023/24 financial year.
Amid such financial challenges, it appears BT is redirecting its strategy. CEO Allison Kirkby, appointed in February the previous year, has been steering the company away from non-core markets, focusing on UK efforts. Recently, BT announced plans to spin its remaining international units into a standalone entity, reflecting a broader plan to streamline its global operations.
Cost-cutting remains another focus for BT. The company has already achieved a £3 billion savings target a year early. With plans for further reductions underway, the aim is to cut another £3 billion by 2029, with significant job cuts planned.
