Discovery Agrees to Acquire All of Eurosport

Pays $534M for Remaining 49% Stake in Sports Net

Discovery Communications on Wednesday (July 22) said it has agreed to acquire all of Eurosport, paying $534 million for the 49% of the company it didn’t already own.

Discovery bought the sports programmer from TF1 Group. Last month Eurosport announced a deal getting rights to the Olympics in Europe through 2024.

At a time when ratings are dropping and more and more programming is being watched on demand, sports is seen as programming that will be attractive to both advertisers and distributors in the digital era.

“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,” Discovery CEO David Zaslav said in a statement.