Discovery Increases Eurosport Portfolio

Discovery Communications has upped its stake in Eurosport France from 20% to 51%, after taking a controlling interest in Eurosport International last year.

Since then, Discovery and Eurosport have signed a number of sports rights deals, including Major League Soccer, Spanish cycling, winter sports and FIFA Women’s World Cup across Europe, as well as Moto GP in Germany, Belgium and Netherlands.

The latest move forms part of a larger strategic partnership with TF1 Group that began in December 2012.

David Zaslav, the president and CEO of Discovery Communications, said: “I am more excited than ever about Eurosport. Bringing the French business and its talented employees back into the larger organization illustrates Discovery’s commitment to building on the success of this great brand.

“Since acquiring a controlling interest last May, Discovery has made a series of strategic investments to enhance Eurosport’s offerings with affiliates, advertisers and audiences. We are ambitiously strengthening Eurosport by bringing exciting sporting events to local fans across Europe and Asia. I would like to thank TF1 for its great stewardship and continued partnership.”

Nonce Paolini, the chairman and CEO of TF1 Group, added: “We are pleased with the consolidation of Eurosport France under Discovery Communications’ leadership. Eurosport Group is performing well and will continue to benefit from Discovery’s strategic investments and expertise around the world.

Peter Hutton, the CEO of Eurosport, commented: “Eurosport France is a cornerstone of the Eurosport Group and will continue to be an important business for us, with dedicated teams and resources in the key French market, where Eurosport is headquartered.

“Furthermore, Eurosport France and its employees will benefit from rejoining the larger organisation and Discovery’s 30 years as a global media company. We can now truly operate as one team and I am thrilled with the progress we are making. We are really just getting started.”