Discovery to acquire full control of Eurosport for $534 million
Discovery Communications last month announced an agreement to acquire full ownership of pan-European sports network Eurosport for $534 million from France’s TF1 Group, which has announced it will exercise a put option on its 49 per cent ownership stake as part of the companies’ previous 2012 agreement.
“Discovery Communications is excited to expand and deepen our investment in Eurosport as we continue to strengthen our newest global brand with locally relevant sports rights that create value for fans, advertisers and distributors,” said David Zaslav, president and CEO of Discovery Communications. “In 2012, we began our investment with a 20 percent stake in Eurosport and increased that investment to 51 percent more than a year ago. Taking full control of Eurosport is the culmination of our commitment to strengthening Eurosport as a premier sports brand and fully integrating this business within Discovery’s unmatched global portfolio.” Since May 2014, Discovery and Eurosport have acquired more than 7,500 hours of coverage, with more than 3,300 of that live, per year across more than 50 properties.