BT and Warner Bros Discovery have confirmed they will go ahead with a 50:50 joint venture company that will see the operating business of BT Sport transferred to the US conglomerate.

The new offering will include content from both BT Sport and Eurosport, including UEFA Champions League, UEFA Europa League, the Premier League, Premiership Rugby, UFC, the Olympic Games, the Australian Open, the French Open, the Tour de France, Giro d’Italia and the winter sports World Cup season.

The companies said customers who access BT Sport through BT directly, and the majority of BT TV customers, will receive discovery plus as part of their existing subscriptions.

The joint venture will be structured as a 50:50 joint venture, with each party holding equal voting rights.

Both BT Sport and Eurosport UK will initially retain their separate brands and product propositions in the market before being brought together under a single brand in the future, said the companies.

The two partners plan to enter into distribution agreements with the JV under which they will distribute the combined sports content to new and existing customers on their respective platforms and apps.