Discovery paying $1.7 billion for SBS Nordic TV networks
BY Staff and Wire reports
Saturday, December 15, 2012
12/15/12 at 4:34 AM
The parent company of the Discovery Channel said Friday it is buying 12 TV networks in Norway, Sweden, Denmark and Finland in a deal worth about $1.7 billion.
Discovery Communications Inc. said the deal with German TV company ProSiebenSat.1 Group for its SBS Nordic operations also includes SBS Nordic's 19 radio stations and other assets.
The deal is expected to close in early 2013.
In addition, Discovery said it continues to negotiate with Paris-based media group TF1 to buy a 20 percent stake in Eurosport, Europe's leading sports network, for about $221.6 million.
Silver Spring, Md.-based Discovery owns 153 TV networks around the world, including the Discovery Channel, TLC, Animal Planet, Science and Investigation Discovery.