By Kyle Morris

BT Group PLC said Thursday that it has entered into exclusive negotiations with Discovery Inc. to create a sports joint venture in the U.K.

The U.K. telecommunications company said the new entity would be a 50-50 joint venture that would combine the companies' sports and entertainment offerings.

BT said it hopes to conclude exclusive discussions with Discovery early in the first quarter, with the new company operational later this year.

Write to Kyle Morris at kyle.morris@dowjones.com

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(END) Dow Jones Newswires

February 03, 2022 02:42 ET (07:42 GMT)

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