logo
  Join        Login             Stock Quote

Discovery Communications (DISCA) To Buy SBS Nordic Operations Of German TV Group

 December 14, 2012 07:38 AM
 


(By Balachander) Discovery Communications Inc. (NASDAQ: DISCA) has agreed to acquire SBS Nordic operations of German TV company ProSiebenSat.1 Group for a total enterprise value of roughly $1.7 billion (1.325 billion euros).

The Silver Spring, Maryland-based company also announced a $1.0 billion increase to its share buyback plan.

Discovery Communications said the acquisition expands its footprint across the Nordic region and strengthen its brand portfolio by adding general entertainment, scripted and sports programming to the company's suite of services for the first time.

Under the terms of the agreement, Discovery Communications will acquire 12 television networks in Norway, Sweden, Denmark and Finland, among other assets.

[Related -Hasbro, Inc. (HAS) Agrees To Be Premier Toy And Game Licensee For Rovio]

In addition, Discovery agreed to buy a 20 percent minority interest in the Eurosport group, a pan-European multimedia platform, for around $221.6 million.

Citigroup acted as financial advisor to Discovery Communications on the deal.

The deal is expected to be completed early next year. 

DISCA shares closed Thursday's regular trading at $60.26.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageInitial Jobless Claims Rose Unexpectedly

Claims unexpectedly rose in the latest report through last weekend to breach 300,000 for the first time read on...

article imageAll Quiet on the Record High Front

What can we glean from the media’s lack of attention to the market’s recent record read on...

article imageThe Chip Maker Short Sellers Should Be Watching

Investing in semiconductor stocks is always tricky. Industry cycles can lead to bumps in the road for the read on...

article imageChicago Fed: US Economic Growth Slowed In October

The pace of US growth slowed more than expected in October, according to this morning’s update of the read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Media Is Red Hot For Good Reasons
More Articles on: Europe



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.