Discovery Increases Stake in Eurosport France

LONDON: Discovery Communications has upped its stake in Eurosport France from 20 percent to 51 percent, as part of a larger strategic partnership with TF1 Group that began in December 2012.

Last year, Discovery took a controlling interest in Eurosport International. Since then, Discovery and Eurosport have signed numerous sports rights deals, from Major League Soccer, Spanish cycling, winter sports and FIFA Women's World Cup across Europe, to Moto GP in Germany, Belgium and Netherlands. TF1 had retained 80 percent ownership of Eurosport France, but is selling a larger share to Discovery, which now has a controlling interest.

"I am more excited than ever about Eurosport. Bringing the French business and its talented employees back into the larger organization illustrates Discovery’s commitment to building on the success of this great brand,” said David Zaslav, the president and CEO of Discovery Communications. "Since acquiring a controlling interest last May, Discovery has made a series of strategic investments to enhance Eurosport’s offerings with affiliates, advertisers and audiences. We are ambitiously strengthening Eurosport by bringing exciting sporting events to local fans across Europe and Asia. I would like to thank TF1 for its great stewardship and continued partnership.”
 
“We are pleased with the consolidation of Eurosport France under Discovery Communications’ leadership. Eurosport Group is performing well and will continue to benefit from Discovery’s strategic investments and expertise around the world,” added Nonce Paolini, the chairman and CEO of TF1 Group.

“Eurosport France is a cornerstone of the Eurosport Group and will continue to be an important business for us, with dedicated teams and resources in the key French market, where Eurosport is headquartered,” said Peter Hutton, the CEO of Eurosport. “Furthermore, Eurosport France and its employees will benefit from rejoining the larger organization and Discovery’s 30 years as a global media company. We can now truly operate as one team and I am thrilled with the progress we are making. We are really just getting started.”