Discovery Acquires Full Ownership of Eurosport for €491m

Discovery Communications has acquired full control of European sports channel Eurosport from TF1 Group in a €491 million deal.

This deal follows on from Discovery/Eurosport winning the European broadcast rights in June for the Olympic Games from 2018 to 2024.

The TF1 Group has also announced it will exercise a put option on its 49% 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, bronchi advertisers and distributors,” said David Zaslav, President and CEO of Discovery Communications.

“In 2012, we began our investment with a 20% stake in Eurosport and increased that investment to 51% 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.”

Nonce Paolini chairman and CEO of TF1 said: “We are delighted by the excellent relationship between Discovery and TF1 since we began our partnership in 2012.

“After an initial phase of creating value via acquisitions of equity stakes, which accelerated the development of Eurosport and the theme channels, we intend to continue our collaboration in the years ahead.”

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