Discovery Buying Remainder of Eurosport

Discovery Communications is buying the rest of European sports network Eurosport from minority owner TG1 Group, Discovery said in a Wednesday news release. Discovery bought a stake in Eurosport in 2012 and expanded that to 51 percent ownership in 2014 (see 1401220045). Discovery will spend roughly $536 million to buy out the rest of Eurosport. At the same time, TG1 will buy back Discovery's 20 percent of TV Breizh, Histoire and Ushuaia TV. Both deals are expected to close early in Q4