Discovery Takes Full Ownership Of Eurosport

22 Jul 2015 | tshego

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Discovery Communications has claimed it will take full ownership of Eurosport thanks to a €491m deal with French commercial broadcaster TF1 Group.

Discovery completed its acquisition of a controlling interest in Eurosport in June 2014, when the US media and entertainment company increased its stake from 20% to 51%.

As part of the deal, TF1 retained the ability to sell its remaining 49% stake in Eurosport to Discovery – an option that has now been activated.

According to media reports, Discovery’s deal for full ownership of Eurosport is expected to close at the beginning of the fourth quarter.

David Zaslav, president and chief executive of Discovery Communications, 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.

“In 2012, we began our investment with a 20 per cent stake in Eurosport and increased that investment to 51 per cent more than a year ago. 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.”

Since May 2014, Discovery and Eurosport have acquired more than 7,500 hours of coverage per year across more than 50 properties.

Last month saw the company’s biggest acquisition to date, securing the rights to four editions of the Olympic Games, from 2018 to 2024, in a deal valued at €1.3bn.

Discovery acquired the exclusive rights across all platforms, including free-to-air television, subscription/pay-television, internet and mobile phone in all languages across 50 countries and territories on the European continent.

Russia was excluded from the agreement, while the deal applies to the 2022 and 2024 Games only in France and the UK.