Dubai PR Network, Online Press Release from Dubai and Middle East
 
Film, Music & Entertainment(Entertainment)
Filter PR by
  
Discovery communications completes acquisition of controlling interest in Eurosport International
 

• Majority Control of Eurosport Strengthens Discovery’s Position as World’s #1 Pay-TV Programmer by Expanding into Sports Programming.

• Eurosport’s Brands and Businesses to Benefit from Discovery’s Operational Acumen, Local Expertise and Global Platforms.

• Additional Reach and Scale Combined with Increased Investment in “Must-Have” Content Will Create New Value for Advertisers, Affiliates and Audiences across Europe and Asia.

Dubai, UAE: – Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) today announced the completion of its acquisition of a controlling interest in Eurosport International, Europe’s leading sports entertainment group. Discovery increased its interest in Eurosport to 51% from 20% as part of a larger strategic partnership with TF1 Group that began in December 2012.

Discovery was one of the first U.S. media companies to launch channels in Europe in 1989 and has invested steadily and significantly in its international business for 25 years. With the addition of Eurosport’s six pay-TV brands, Eurosport, Eurosport HD, Eurosport 2, Eurosport 2 HD, Eurosport Asia-Pacific and Eurosportnews, Discovery Communications now operates more than 210 worldwide TV networks reaching 2.7 billion cumulative subscribers.

“Today is an exciting day for Discovery Communications and our leadership as the number one pay-TV programmer in the world. Eurosport is a perfect strategic fit for growing market share, strengthening relationships with advertisers and affiliates, and bringing ‘must have’ content to passionate viewers across the globe,” said David Zaslav, President and CEO of Discovery Communications. “By combining Eurosport’s popular sports programming with Discovery’s global brands and local expertise, we will continue to capitalize on the international growth of pay-TV and create long-term value for our shareholders.” 

Discovery intends to make long-term strategic decisions and targeted investments to strengthen and expand Eurosport’s sports programming and services to nourish and maximize Eurosport’s audience and reach. As part of that effort, Discovery will be working with Eurosport management and employees on a long-term business plan that fully optimizes Eurosport’s channels as part of Discovery’s suite of global networks.

“Together, Discovery and Eurosport are undoubtedly stronger. Discovery has built the most successful international pay-TV business in all of media and we are excited to utilize that expertise to further strengthen Eurosport’s programming and platforms,” said Jean-Briac Perrette, President of Discovery Networks International. “We would like to thank TF1 for its leadership of Eurosport International and for giving us such a wonderful opportunity to expand our partnership.”

“Eurosport is perfectly poised for its next phase of growth and I can think of no better partner than Discovery to make this vision a reality,” said Nonce Paolini, Chairman and CEO of TF1. “Discovery has a proven track record of a long-term investment strategy that creates value for advertisers, affiliates and audiences around the world.”

The closing price for Eurosport International was based on an average enterprise valuation for the Eurosport Group of €902 million (approximately $1.2 billion), partly corresponding to the initial valuation and partly to a higher valuation linked to the control of the company. From this group valuation, the value of Eurosport France (€85 million, approximately $115 million) has been deducted. TF1 expects to retain its 80% interest in Eurosport France until at least January 1, 2015. Also, today’s closing does not impact the other two elements of the original deal – the 20% interest Discovery acquired in TV Breizh, Histoire, Ushuaïa TV and Stylía channels, and a production alliance with TF1 Group. TF1 will retain the ability to exercise a put option over the remaining 49% in Eurosport International, which would potentially increase Discovery’s ownership to 100%.


Posted by : Dubai PR Network Editorial Team
Viewed 32226 times
PR Category : Entertainment
Posted on : Wednesday, June 4, 2014  3:19:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : ‘Unforgettable' Releasing on June 12th in Theatres across th...
Next Story : Gravitire 3D - the new arabic version of the popular game
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Season's Greetings 2018 [50801-Views]
Twelve Holiday Gifts for the Beauty-Obsessed Woman [49416-Views]
The Smile Bar Opens Its First Store in the UAE [46616-Views]
Purely Pandora Classics With a Twist [25992-Views]
Festive Gifting Guide [21466-Views]
New 1948 Seamaster Watches Join the Ranks [21405-Views]
Tryano Launches Elemis [21301-Views]
Add a festive sparkle to your eyes with Palladio Beauty [21051-Views]
The Geo-Graham Orrery Tourbillon presents a galaxy you can reach out and wear Geo-Graham O... [20496-Views]
Amp up your skincare routine with The Organic Pharmacy's new corrective serums [19599-Views]
Parmigiani Fleurier, new Friends of the Brand – ice-hockey superstar, Evgeniy Malkin and T... [16848-Views]
Hour Choice presents Coach Park Collection [16452-Views]
Chloé Eyewear's Feminine Appeal Seen Through the Lens of the New “Rosie” Style [15884-Views]
Certina DS PH200M collection [15561-Views]
Joyalukkas brings joy to hundreds around the world with gold bar giveaway this festive sea... [14933-Views]
Tissot T-Race Marc Marquez [13768-Views]
LACOSTE presents its new Legacy collection [12914-Views]
Coca-Cola Puts Extra Fizz Into Its Factory Thanks to Digitisation [11017-Views]
Oh So Heavenly! Bath Sets from Glambeaute.com that make a great gift this festive season [10272-Views]
Introducing Nokia 3.1 Plus to the UAE [6161-Views]
Introducing the GUESS Holiday 2018 Collection [6045-Views]
The Custodian of the Two Holy Mosques King Salman bin Abdulaziz honored Huawei with the Fi... [5789-Views]
Souq.com's Biggest Ever White Friday Sale [5685-Views]
Zoho launches its cloud accounting software in Bahrain [5429-Views]
The new BMW 8 Series Convertible. [5417-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories