Eurosport has a new owner, putting the broadcaster at the centre of fresh questions about how fans will watch cycling. Paramount Skydance completed its acquisition of Warner Bros. Discovery on October 6, taking control of Eurosport, HBO and HBO Max.
For cycling viewers, the question is not just whether the new owner keeps the race rights, but what watching them will cost and which app they will need. Skydance’s completion announcement says its streaming products will be unified into a single service over time, without setting out a timetable, pricing or arrangements for cycling coverage.
UK fans have already seen how retaining race coverage can still mean a much more expensive subscription. When Eurosport’s coverage was folded into TNT Sports in February 2025, the monthly streaming package needed to watch it rose from £6.99 to £30.99. The later move from discovery+ to HBO Max in March 2026 changed the app rather than the standalone monthly price.
Neither precedent establishes what Skydance will do next. Long-term cycling rights agreements remain in place, with availability varying by territory, and no changes to those rights have been announced. But retaining the races does not guarantee unchanged prices, subscription packages or apps.
The combined company is called Skydance, and its shares began trading on the New York Stock Exchange under the ticker SKYD. The transaction has been valued at about $81 billion, or nearly $111 billion including debt.
The deal closed after a settlement with 12 US states that had sued over competition in film distribution and cable-channel licensing. Approved by Judge Araceli Martínez-Olguín on September 30, it requires additional US film-production spending, separate negotiations on the two companies’ basic-cable channels for five years and support for workers displaced by the merger.
What it means for watching cycling
Warner Bros. Discovery extended its RCS Sport agreement before the acquisition closed, securing the Giro d’Italia, Giro d’Italia Women and other Italian races through at least 2029. The expanded package covers 14 races.
The broadcaster said the agreement provides live television coverage on Eurosport in 50 European markets and TNT Sports in the UK and Ireland, with live and on-demand streaming on HBO Max in the United States and Europe, including the UK.
A separate agreement with the European Broadcasting Union, Amaury Sport Organisation and Unipublic covers the Tour de France, La Vuelta and other major men’s and women’s races through at least 2030. Broadcast arrangements vary by territory.
TNT Sports’ move from discovery+ to HBO Max in the UK took place on March 26, months before the takeover. Existing TNT Sports subscribers moved to the new app, while the sports catalogue was unchanged at launch.
For now, Skydance’s streaming consolidation plans mean another platform change could be on the horizon, but whether that changes the price, subscription package or race availability is not yet clear. The rights agreements offer continuity for coverage, not a promise that watching it will stay the same.
