Discovery Communications "will take full control" of sports broadcaster Eurosport after agreeing to purchase the 49% of the company it did not own from French media group TF1 for €491M ($536M), according to Matthew Garrahan of the FINANCIAL TIMES. The deal follows Discovery's €1.3B ($1.4B) acquisition of European broadcast rights to Olympic Games between '18 and '24, and is "another sign of the increasing interest" U.S. media groups are taking in Europe. Discovery CEO David Zaslav said, "Taking full control of Eurosport is the culmination of our commitment to strengthening Eurosport as a premier sports brand." The company, whose biggest shareholder is cable billionaire John Malone, has built a larger int'l business than "many of its peers" in the U.S. and is on the "look-out for other European deals" (FT, 7/22). REUTERS' Abhirup Roy reported Discovery was "one of the first
American media companies" to launch TV channels in Europe in '89
and "has been investing steadily in the continent." The latest deal also includes a provision for TF1 to buy
back Discovery's 20% interest in TV Breizh, Histoire, and
Ushuaïa TV for €15M ($16.4M). The deal is "expected to close at the beginning of the fourth
quarter" (REUTERS, 7/22). In L.A., Georg Szalai reported Zaslav 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." Since May '14, 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 (HOLLYWOOD REPORTER, 7/22).
