Britain’s competition watchdog said on Wednesday it had started investigating BT’s deal to combine its sports broadcasting business with Warner Bros Discovery .
The Competition and Markets Authority (CMA) said it had until July 28 to make its phase 1 decision on whether the joint venture between the country’s biggest broadband and mobile provider and the U.S. company will reduce competition in the UK.
“The CMA routinely looks at any proposed joint venture of this sort, so this is a normal part of the process,” a BT spokesperson said in an emailed statement.
Warner Bros Discovery also said CMA’s investigation was a normal step as the deal is subject to regulatory approvals.
The investigation by the CMA is part of what is called “phase 1”, which will either lead to the deal being cleared or a referral to a more in-depth “phase 2” probe.
BT, a former British telecoms monopoly, clinched a sports broadcasting tie-up with Discovery in May after months of discussions with the American media company. read more
The deal to merge BT’s sports TV unit with Discovery’s Eurosport in Britain and Ireland, enables the British company to retain Premier League soccer for its customers, while sharing the burden of expensive broadcast rights. read more
Media and streaming company Warner Bros Discovery was formed from the $43 billion merger of Discovery Inc and assets of AT&T. Shares in the newly formed company started trading in April.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Japan’s Nippon Steel Eyes Year-End Close on $15B US Steel Deal Amid Political Uncertainty
Nov 7, 2024 by
CPI
Canada Orders Dissolution of TikTok’s Business Amid National Security Concerns
Nov 7, 2024 by
CPI
India Raids Amazon, Flipkart Seller Offices in Foreign Investment Probe
Nov 7, 2024 by
CPI
Canada’s Competition Bureau Seeks Public Feedback on Updated Merger Guidelines
Nov 7, 2024 by
CPI
FTC Adopts Stricter Reporting Rules for Mergers, Delays Expected in 2025
Nov 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Remedies Revisited
Oct 30, 2024 by
CPI
Fixing the Fix: Updating Policy on Merger Remedies
Oct 30, 2024 by
CPI
Methodology Matters: The 2017 FTC Remedies Study
Oct 30, 2024 by
CPI
U.S. v. AT&T: Five Lessons for Vertical Merger Enforcement
Oct 30, 2024 by
CPI
The Search for Antitrust Remedies in Tech Leads Beyond Antitrust
Oct 30, 2024 by
CPI