Discovery to Pay $2 Billion to Distribute PGA Tour Globally
- Twelve-year pact includes development of Netflix-like service
- Half of top 50 golfers in the world are from outside the U.S.
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Discovery Inc., owner of cable channels including HGTV and Animal Planet, agreed to pay $2 billion for long-term international TV rights to the PGA Tour, part of the media company’s push to become a global force in live sports.
The 12-year deal, which begins next year, includes TV and online rights to the U.S.-based men’s golf circuit and the development of a Netflix-like video service. It covers more than 140 tournaments a year, including about 40 PGA Tour events.