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Benzinga

Business

Anusuya Lahiri

Here's Why Discovery Shares Are Trading Higher Today

Discovery United Kingdom Eurosport BT Sport Nasdaq DISCA BT Group

Discovery Inc (NASDAQ:DISCA) (NASDAQ:DISCK) confirmed discussions with BT Group to create a new sports venture in the U.K. by combining its Eurosport business in the U.K. and Ireland with BT Sport.
The companies aim for the 50:50 Joint Venture to be operational in 2022, pending a definitive agreement and regulatory approval.
The proposed U.K. venture would bring together BT Sport and Eurosport U.K., which have extensive portfolios of premium sports rights.
Discovery forayed into the global sports media business in 2014 with its acquisition of Eurosport.
Price Action: DISCA shares traded higher by 4.21% at $28.86 on the last check Thursday.

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