BT acknowledged that it is in talks to sell off BT Sport, its sports broadcasting unit. BT hired investment bank Lazard to look into the options, according to The Telegraph. Among the possible suitors: Amazon, Disney and DAZN.
In a statement the company says, “BT can confirm that early discussions are being held with a number of select strategic partners, to explore ways to generate investment, strengthen our sports business, and help take it to the next stage in its growth.”
Digital streaming service DAZN sees a potential purchase as the next step in its U.K. expansion following its desire to bid for the rights to the English Premier League, according to SBC News.
One report quoted Jefferies analyst Jerry Dellis that BT Sport costs the telecommunications giant “around £800 million (US$1.1 billion) a year” and struggles “to define how the broadcasting arm creates value for the business”.
Meanwhile, the Premier League would like permission from the U.K. to bow out of the rights auction and retain deals with existing partners, BT Sport included.
