Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Discovery Communications To Purchase SBS Nordic Operations From ProSiebenSat.1

12/14/2012 7:32 AM ET

Discovery Communications Inc. (DISCA: Quote) 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.

Register
To receive FREE breaking news email alerts for Discovery Communications, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.