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
Even after two years of thoroughly searching across the Indian Ocean, using modern technologies and devices, there is no clue about the Malaysian airline that vanished on March 8, 2014. Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform.
comments powered by Disqus
Follow RTT