Discovery Communications has announced an agreement to acquire full ownership of the leading sports channels group across Europe and Asia.
The company will acquire Eurosport for €491 million from TF1 Group, which announced it will exercise a put option on its 49% ownership stake as part of the companies’ 2012 agreement.
David Zaslav, President and CEO of Discovery Communications, said: “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. 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. I would like to thank TF1 for being great partners to us on this journey for the past few years.”