ITV have said they were not prepared to "pay over the odds" for live Champions League and Europa League television rights.
BT Sport's acquisition ends ITV's 21-year association with the competition regarded as the world's greatest club competition.
"ITV is proud to have been the UK free to air broadcaster of the Champions League, since it launched in 1992, and of the Europa League, but we were not prepared to pay over the odds in the latest live rights round," an ITV spokesman said.
"Viewers will be able to continue to watch both competitions free on ITV through to 2015 and we remain the home of live England football."
More top news
Awarded the Victoria Cross for rescuing colleagues from the Somme, a Northern Irish soldier has been honoured with a statue in his town.
China has become Africa's biggest trading partner - but amid accusations of exploitation, all is not well in this remarkable partnership.
A newborn baby girl has been killed by dogs after they attacked her while she was lying on a sofa.