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
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 www.groupe-tf1.fr
DISCOVERY COMMUNICATIONS TF1
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-0- Dec/24/2012 12:07 GMT
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