SILVER SPRING, Md., April 9, 2013 /PRNewswire/ -- Discovery Communications today announced that it has completed the acquisition of the SBS Nordic operations of ProSiebenSat.1 Group, originally announced in December 2012. The acquisition adds 12 television networks, as well as leading radio stations and several digital brands, to Discovery's existing portfolio of eight brands in Norway, Sweden, Denmark and Finland, to form a combined regional business to be known as SBS Discovery Media.
"The formation of SBS Discovery Media solidifies Discovery's long-term growth in some of the most well-penetrated and stable TV markets in the world, while also expanding Discovery's brand portfolio by adding scripted entertainment programming to the company's suite of genres," said David Zaslav, president and CEO of Discovery Communications. "This acquisition, along with the recent announcement of Discovery's equity stake in Eurosport, is a continuation of a 25-year strategy of investing internationally to build the most extensive global footprint in media and extending our presence in key markets to support long-term growth and diversify the company's offerings."
Along with the closing of the transaction, Discovery also announced the appointment of Henrik Ravn as President and Managing Director of the newly combined SBS Discovery Media business, which includes both Discovery's and SBS's networks and operations in the Nordic region. Ravn has led the SBS Nordic business since 2009.
"Discovery is fortunate to add Henrik Ravn, a strong and experienced leader, to our international team," said Mark Hollinger, president and CEO of Discovery Networks International. "Henrik's proven ability and knowledge of the market, along with the expertise and creativity of the entire team at SBS, will be a tremendous asset for the company as we continue to grow our networks and businesses in the Nordic region and strengthen Discovery's leadership position around the world.""I am extremely pleased to be joining a global leader like Discovery, and look forward to working with the combined team at SBS Discovery Media to grow our market position across the Nordics," said Ravn. "I am confident that the combination of Discovery's leading factual content, along with SBS's mix of locally produced entertainment programs, sports and the best scripted series and movies from major studios, provides a well-rounded and complementary suite of viewing options for consumers across all demographics, as well as additional scale and reach for advertising and affiliate partners throughout the region."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV