In a press release dated July 22nd, the TF1 Group announced the sale of its 49% stake in Eurosport to Discovery Communications for 491 million euros. At the same time, for 14.6 million euros, the TF1 Group acquires from Discovery its 20% stake in the pay channels TV Breizh, History, Ushuaia.
Discovery and the TF1 Group “are delighted by the excellent relationship that has existed between the two groups since they began their partnership in 2012. After an initial phase of creating value via acquisitions of equity stakes, which accelerated the development of Eurosport and the theme channels, the two groups intend to continue their collaboration over the years ahead.
“Both transactions are expected to close at the beginning of the fourth quarter.”
Source: communiqué de presse TF1
