BT Group Updates FY Outlook To Reflect Eurosport UK JV

BT Group plc (BT_A.L,BT, BTGOF) updated its annual outlook to reflect formation of Sports Joint Venture between BT Sport and Eurosport UK.

On 1 September 2022 BT Group and Warner Bros. Discovery announced completion of their transaction to form a 50:50 joint venture that combines the assets of BT Sport and Eurosport UK.

BT Group said Tuesday that forming the joint venture will reduce reported BT Group revenue for fiscal year 2023 by about 300 million pounds- 350 million pounds as a result of the seven months of fiscal year 2023 revenue transferring to the JV.

However, the company continues to expect underlying year on year Group revenue growth in fiscal year 2023 on a pro forma basis.

BT stated that its historical reported Group financials are unchanged.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Tyson Foods, Inc. (TSN) reported that its first quarter adjusted operating income declined 68% year-over-year. Adjusted operating margin was 3.4%, for the quarter. Both lower revenue and higher COGS in Beef and Pork drove the decrease in adjusted operating margin. The company said market dynamics... Baltimore, Maryland-based Fresh Ideation Food Group LLC is recalling certain sandwiches and other products sold under various brands, citing the potential to be contaminated with Listeria monocytogenes, the U.S. Food and Drug Administration said. The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for ready-to-eat or RTE stuffed chicken product citing that it may not be fully cooked due to underprocessing.
Follow RTT