Discovery Communications Group To Purchase Pan-European Broadcaster Eurosport
French newspaper Les Echos said that "reports about the sale of Eurosport to the Discovery Communications Group are accurate," according to LE FIGARO. The sports channel, owned by TF1, "could pass under the American flag by the end of the year." Discovery Communications wants "complete control" of Eurosport. The U.S. media group and TF1 have "entered into negotiations to finalize the transfer." Discovery "already acquired a 20% stake in the pan-European sports channel" for €170M in December. It also "has an option to purchase up to 51% of Eurosport." TF1 has an option to sell its remaining 49%. The transaction "could be finalized a year ahead of its original schedule" (LE FIGARO, 10/9).