Warner Bros. Discovery acquires Eurosport International (TF1 Group)

Warner Bros. Discovery acquired Eurosport International (TF1 Group) for approximately EUR 253 million ($343 million), subject to working capital adjustments (for the move from 20% to 51%), a transaction completed in May 2014, structured as all cash (controlling-interest acquisition: ownership increased from 20% to 51%).

Eurosport International (TF1 Group) operates in International Networks / sports, is based in Paris, France; pan-European and Asia-Pacific distribution. Discovery Communications acquired a controlling interest in Eurosport International, Europe's leading pan-European sports media platform, increasing its ownership stake from 20% to 51% by buying out part of TF1 Group's holding. The deal accelerated a larger strategic partnership with TF1 first announced in December 2012 and brought Eurosport's six pay-TV brands (Eurosport, Eurosport HD, Eurosport 2, Eurosport 2 HD, Eurosport Asia-Pacific and Eurosportnews) under Discovery's control.

On January 21, 2014 the Company entered into an agreement with TF1 to acquire a controlling interest in Eurosport International by increasing Discovery's ownership stake from 20% to 51% for cash of approximately EUR 253 million ($343 million) subject to working capital adjustments. Due to regulatory constraints the acquisition initially excluded Eurosport France, in which Discovery retained a 20% equity interest and a commitment to acquire a further 31% beginning 2015.

Eurosport gave Discovery scale in live sports — a genre it had largely lacked — across Europe and Asia, strengthening its position as the world's #1 pay-TV programmer and adding 'must-have' content for advertisers and affiliates. Part of Discovery's International Networks segment