PRESS: BT close to sell TNT Sports stake to Warner Bros Discovery? FT

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BT Group PLC is nearing a deal to sell its stake in TNT Sports to Warner Bros Discovery Inc, the Financial Times reported Saturday, citing two people familiar with the situation.

BT, a London-based telecommunications group, could announce the sale of its 50% stake in TNT Sports to Burbank, California-based media and entertainment company Warner Bros as early as next week.

BT is set to announce its results for the financial year ended March 31 on Thursday.

Earlier this week, the Financial Times had reported that BT plans to turn its international business into a standalone unit, reporting separately, amid a focus on domestic business and the potential sale of non-UK operations.

BT Chief Executive Allison Kirkby is open to a sale of the carved-out operation, or a merger with another operator, the newspaper said at the time, citing a person familiar with the matter.

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