Deals
Discovery Buys ProSieben’s Nordic Unit in $1.7 Billion Deal
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Discovery Communications Inc. agreed to buy 12 television networks from German broadcaster ProSiebenSat.1 Media AG for $1.7 billion, its largest acquisition, as the owner of the Animal Planet cable network looks to expand its international unit.
Discovery, based in Silver Spring, Maryland, beat out other bidders for the ProSiebenSat.1’s SBS Nordic unit, which comprises television networks in Norway, Sweden, Denmark and Finland. Discovery also announced it’s buying a 20 percent stake in Societe Television Francaise 1’s Eurosport channel for $221.6 million in a partnership that would allow it to potentially take full ownership after two years.