The parent company of the Discovery Channel is close to buying a stake in Europe's leading sports network, Eurosport.
TF1, the Paris-based media group that owns Eurosport, said Discovery Communications could pay €170m in cash for a 20% stake in Eurosport.
The planned deal gives Discovery the option of lifting its stake in Eurosport to 51% in two years, and gives TF1 the option of then selling the remaining 49% to Discovery as well.
The two companies are also negotiating for Discovery to take 20% stakes in a range of TF1's smaller theme channels for €14m. An agreement is expected to be signed in the coming weeks, TF1 said.
The two companies are also negotiating for Discovery to take 20% stakes in a range of TF1's smaller theme channels for €14m. An agreement is expected to be signed in the coming weeks, TF1 said.
