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
Delta Air Lines Inc. (DAL) pilots, represented by the Air Line Pilots Association International, are picketing on Friday at several airports across the country. The pilots said the picketing was to raise the sense of urgency in ongoing contract negotiations. The negotiations between the pilots... Charter Communications, and its recently acquired subsidiary Time Warner Cable, have been regularly overcharging its consumers to a tune of $7.2 million per year, according to a report from the U.S. Senate's Permanent Subcommittee on Investigations. According to the report, Time Warner Cable over-billed... Popular photo sharing network Instagram is adding a new translation button on its pages, so that the global crowd can read and enjoy the captions and comments given for the photographs uploaded. The new update will be available from next month onward.
comments powered by Disqus
Follow RTT