Discovery enters European JV deal with streaming firm BAMTech

• Along with earnings today, Discovery Communications (DISCA -1.2%) has made a deal with streaming firm BAMTech to create a European joint venture.
• The partnership -- BAMTech Europe -- will provide back-end technology for platforms throughout the continent, and will have Discovery's Eurosport Digital as an initial client.
• You'll remember BAMTech (which spun off from MLB Advanced Media) as the firm that got a $1B infusion from Walt Disney, which bought 33% and called it an "enabler" for digital video. The company has a strong presence in the U.S. serving video to 7.5M subscribers for various streaming-service clients.
• Internationally focused Discovery sees the synergies in a JV: “We think we can help (BAMTech) build a platform business in Europe,” CEO David Zaslav tells Reuters. “They’ve got a lot of knowledge in the direct-to-consumer business.”