TF1 & Discovery Communications finalize agreement

PR Newswire/Les Echos/ 
December 21, 2012 

        TF1 & Discovery Communications finalize agreement and move forward
             to build three-tier strategic alliance across Eurosport, 
                        four payTV channels and production

Following a favourable opinion from the employee representative bodies and in
line with th e terms of the press release published on 13 December 2012, TF1 
and Discovery Communications are announcing the signa ture and closing today 
of their strategic alliance agreement.

The acquisition by Discovery of the 20% interest in Eurosport was based on an  
enterpriise valuation of EUR170 million (approximately US$221.6 million).
The acquisition by Discovery of the 20% interest in Pay TV (TV Breizh, 
Histoire, Ushuaïa TV and Stylía) was based on an enterprise valuation of 
EUR14 million (approximately US$18.2 million).

Commenting, Nonce Paolini, Chairman and CEO of TF1, said: "I am very pleased 
to sign this major agreement with one of the world's largest media companies. 
It ties in with TF1's determination to open up ambitious pro spects for its
pay TV channel distribution business, while ensuring the territorial 
development of Eurosport worldwide and optimising the distribution of its 
channels in France. It also enables TF1 Production to grow its expertise in 
content creation outside France".

Mark Hollinger, president and CEO of Discovery Networks International stated, 
"I am delighted to be able to start working more closely with the TF1 teams 
across Eurosport, their four payTV channels and their production teams.
Bringing TF1's strong flagships and sports programming, and pan regional sales
expertise to Discovery s powerful br and, global footprint and local sales 
expertise represents a win-win in my book. I look forward to a very successful 
relationship over the next two years and beyond."

Rothschild Inc. acted as financial advisor to Discovery Communications on this
transaction. DLA Piper served as legal advisors. Darrois Villey Maillot 
Brochier served as legal advisors to TF1 on this transaction.

About Discovery Communications
Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) is the world's #1
nonfiction media company reaching more than 1.8 billion cumulative subscribers
in 217 countries and territories. Discovery is dedicated to satisfying 
curiosity through 153 worldwide television networks, led by Discovery Channel, 
TLC, Animal Planet, Science and Investigation Discovery, as well as U.S. joint 
venture networks OWN: Oprah Winfrey Network, The Hub and 3net, the first 
24-hour 3D network. Discovery also is a leading provider of educational 
products and services to schools and owns and operates a diversified portfolio 
of digital media services, including Revision3. For more information, please 

TF1 (NYSE Euronext Paris: FR0000054900 / TFI) is an integrated media group with
a range of businesses in high-growth segments. Its corporate mission is to
inform and entertain. In freeview televisiion, the Group's channels are TF1 
(the major events channel, no. 1 in France), TMC (no. 5 in France, and no.1 
digital terrestrial channel), NT1, and HD1. The TF1 Group is also present in
pay TV
with Eurosport (the leading pan-European sports broadcasting platform, received
by 130 million households in Europe), TV Breizh (Fra nce's no 1 cable/satellite
channel), Ushuaïa TV, Histoire, Stylía and LCI.
The TF1 group's activities span the entire value chain in the broadcasting
industry. TF1 has also created a broad range of merchandising spin-offs from
its main channel. Harnessing the growth of the Internet and new technologies,
TF1 produces, devellops and publishes new interactive content and services for 
the Web, smartphones, tablet computers and connected TV. 
For more information please visit

     DISCOVERY COMMUNICATIONS                         TF1                 
Corporate communications:                        Corporate communications:            
Investor relations:                              Investor relations : 
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-0- Dec/24/2012 12:07 GMT
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