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
Live-streaming video platform Twitch said it will launch a new affiliate program for non-partnered streamers that will allow them to earn money as they broadcast on the platform. This will be similar to YouTube's Partner program and is part of Twitch's efforts to broaden its appeal. Chocolate company Hershey Co. said it will increase the visibility of nutrition information and portion options of its snacks as well as reduce the sweets' calorie count. The move is part of the company's ongoing efforts to offer a broad range of snacks and clear information in response to feedback from consumers, who are shifting to healthier foods. The Coca-Cola Company (KO) reported a profit for the first-quarter of 2017 that declined 20 percent from the prior year. Net revenues declined 11%, reflecting unfavorable impacts from structural changes of 10% and foreign currency of 1%. The company remains on track to deliver its underlying revenue and profit targets for the full year.
comments powered by Disqus
Follow RTT