Discovery Communications is buying 12 TV networks in Norway, Sweden, Denmark and Finland in a deal worth about $1.7 billion. Discovery said the deal with German TV company ProSiebenSat.1 Group for its SBS Nordic operations expands its presence in the Nordic markets.
It also boosts its brand portfolio by adding general entertainment, scripted and sports programming to its lineup of services for the first time. The acquisition also includes SBS Nordic’s 19 radio stations and other assets, reports The AP/Brandon Sun.
The deal is subject to regulatory review and is expected to close in early 2013.
In addition, Discovery said it continues to negotiate with Paris-based media group TF1 to buy 20% stake in Eurosport, Europe’s leading sports network, for about $221.6 million.
Discovery also said Friday that its board approved a $1 billion increase to its Discovery owns 153 TV networks around the world, including the Discovery Channel, TLC, Animal Planet, Science and Investigation Discovery.