Discovery and BAMTech, the digital technology division of Major League Baseball’s MLB Advanced Media, said they have formed a joint venture in Europe.
The new company, BAMTech Europe, will provide content owners an over-the-top platform with digital capabilities. Discovery’s Eurosport will become BAMTech Europe’s first client and will gain access to some European sports rights acquired by BAMTech.
In the U.S., the Walt Disney Co. has invested $1 billion in BAMTech, which will be creating ESPN-branded streaming services.
Discovery has been making increased investments in sports rights since acquiring Eurosport. Most prominently, it acquired the rights to the Olympics in Europe. It has also been building a variety over-the-top and subscription services using its sports rights.