Discovery Communications is set to purchase the remainder of TF1 Group’s 49 percent stake in their sports network, Eurosport, for $535 million. Last year, Discovery bought the other 51 percent after an initial investment of 20 percent in 2012.
Addressing the first half of this year, Discovery and Eurosport have combined for over 7,700 hours of coverage, and have also accomplished a victory in obtaining media rights to broadcast the Olympics from 2018 to 2024.
Under the agreement, Eurosport may also relinquish a 20 percent share for 15 million Euros in three networks, which – if the transaction is made – will be posted by the beginning of the current fiscal year’s fourth quarter.
Discovery’s President/CEO David Zaslav on taking full ownership of Eurosport:
“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”. “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.”
Discovery Communications Platform
TLC
Oprah Winfrey’s Network
Animal Planet
Velocity
Discovery
Destination America
The Science Channel
Investigation Discovery (I.D.)
Dating back to the later months of 2014, Discovery Communications re-formatted the Barrett-Jackson Automobile Auction, which sold an original Batmobile for over $2 million, after Barrett-Jackson was telecast over the Fox Sports networks.
According to Discovery Communications and its financial recordings, the company reported a drop in cash and cash equivalents from 2013 ($408 million) to 2014 ($367 million). In the same years, Discovery witnessed an increase in total liabilities and equity of $14,979,000 in 2013 and $16,014,000 in 2014.
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