logo
Share SHARE
FONT-SIZE Plus   Neg

Discovery Communications To Purchase SBS Nordic Operations From ProSiebenSat.1

Discovery Communications Inc. (DISCA) announced a definitive agreement with ProSiebenSat.1 Group (PBSFF.PK) to purchase the company's SBS Nordic operations for a total enterprise value of approximately $1.7 billion. Discovery also announced its Board has approved a $1.0 billion increase to existing stock repurchase program. Additionally, Discovery Communications and TF1 announced they have taken the next step in negotiations aimed at forging a strategic alliance.

The acquisition of SBS Nordic includes 12 television networks in Norway, Sweden, Denmark and Finland, among other assets. The deal expands Discovery's brand portfolio by adding general entertainment, scripted and sports programming to the company's suite of services. The transaction is expected to close in early 2013.

Discovery and TF1 announced that Discovery would take a 20% minority interest in the Eurosport group. The acquisition of the 20% interest would involve cash consideration of approximately $221.6 million. Eurosport is the leading pan-European multimedia platform. The Eurosport channel is broadcast to 130 million homes in 59 countries, and is available in 20 language versions.

Discovery would become a shareholder in the TV Breizh, Histoire, Ushuaia TV and Stylia channels, with a 20% interest in each with the ability to increase to 49% in two years. The acquisition of the 20% would involve cash consideration of approximately $18.2 million.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Verizon Communications Inc. (VZ) reported Thursday flat profit in the third-quarter 2017, but quarterly total consolidated operating revenues increased 2.5 percent from the prior year. The adjusted earnings per share met analysts' expectations. The company reaffirmed outlook for its fiscal year 2017. But it now expects capital spending for 2017 to be at the lower end of the prior range. Swiss nutrition, health and wellness giant Nestle SA reported a slight decline in reported sales for the nine-month period, reflecting divestments and negative currency impact. Organic sales growth was 2.6 percent, supported by improved real internal growth or RIG of 1.8 percent and pricing of 0.8 percent. The company now projects trading operating profit margin to decrease by 40-60 basis points.. While Democrats have largely been critical of the Republican tax reform plan, President Donald Trump has claimed the proposal has some bipartisan support. Trump suggested to reporters ahead of a meeting with members of the Senate Finance Committee on Wednesday that "people on both sides" support the tax reform plan.
comments powered by Disqus
Follow RTT