Telefonica Investigated by Spain Competition Body Over Formula 1 Agreement
May 04 2023 - 06:21AM
Dow Jones News
By Adria Calatayud
Spain's National Commission on Markets and Competition said
Thursday that it has started disciplinary proceedings against
Telefonica over an agreement with streaming platform Dazn for
rights to broadcast Formula 1 motor racing.
The competition authority said the launch of the investigation
is part of its work to verify that the Spanish telecommunications
company complies with commitments it made in 2015 when it acquired
media company DTS.
The proceedings relate to an agreement under which Telefonica
sublicensed exclusive rights it had previously acquired to
broadcast Formula 1 races for the 2021, 2022 and 2023 seasons to
Dazn, the commission said.
The commission said it has three months to conduct an
investigation and reach a decision.
Telefonica didn't immediately respond to a request for
comment.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
May 04, 2023 06:06 ET (10:06 GMT)
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