British regulator OKs UK combination of BT Sport, Discovery's Eurosport
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British regulators have cleared the regional merger of the sports broadcasting businesses of Warner Bros. Discovery (NASDAQ:WBD) and BT Group (OTCPK:BTGOF).
The Competition and Markets Authority elected not to refer the deal to a Phase 2 investigation, giving it the go-ahead in its Phase 1 look.

That means Discovery's Eurosport can combine with the BT Sport unit - allowing the incumbent British telecom to keep offering Premier League soccer while sharing increasingly expensive rights fees.
They'll build a joint venture in the coming weeks with equal representation on the board, and move assets to the JV to be managed under a single brand.