Discovery Communications To Acquire TF1 Group's Controlling Interest In Eurosport
Discovery Communications and TF1 Group announced Discovery would acquire a controlling interest in Eurosport Int'l through an extension of their larger strategic partnership first announced in Dec. '12. The deal to increase Discovery's interest from 20-51% accelerates the original agreement by nearly one year. Discovery Communications President & CEO David Zaslav said, "Today's announcement underscores Discovery's strategy to support already strong organic growth with targeted acquisitions and partnerships." The flagship Eurosport network reaches 133 million homes across 54 countries in 20 languages. Eurosport's brands and platforms also include: Eurosport 2 reaching 69 million households across 51 countries; Eurosport HD, the high-definition simulcast of Eurosport, available in 32 million homes in 48 countries; Eurosport Asia-Pacific reaching 16 countries; and Eurosportnews, a 24-hour news channel and online hub, providing an up-to-the-minute sports news feed available in 48 countries. The agreement was based on an average enterprise valuation for the Eurosport Group of €902M ($1.2B), partly corresponding to the initial valuation and partly to a higher valuation linked to the control of the company (Discovery Communications).