The Wimbledon ladies' final is set to be bumped over to BBC Two to make way for the global pop concert, which will star U2, Oasis, Robbie Williams and Madonna.
The corporation will screen Live 8 across BBC One, Two and Three, as well as BBC Radio 1, Radio 2, BBC World Service and Nations and Regions.
Five concerts are due to take place in the UK, US, Italy, France and Germany on July 2 in an attempt to force western countries to relieve third world debt, just ahead of the G8 conference of world leaders to be held in Gleneagles, Perthshire, Scotland starting July 6.
The UK concert, to be held in Hyde Park in London, is due to kick off at 2pm with an incredibly high calibre of artists -- including Sting, Coldplay and Duran Duran.
Jana Bennett, BBC director of television, said: "This concert promises to be one of the defining events of our generation.
"The BBC was at the heart of Live Aid coverage in 1985 and 20 years on we are proud to be the host broadcaster of such a momentous occasion."
BBC presenters Jonathan Ross and Graham Norton will be hosting the corporation's television coverage of the live event from the UK and US respectively.
Chris Evans, Davina McCall and Dermot O' Leary have already signed up to cover the event for Radio Two.
In addition, the BBC will discuss the issues and arguments raised from the concert, as well as documenting the journey from Live Aid to Live 8.
Pic: BBC/David Coperman
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