Discovery Communications purchasing ProSiebenSat.1’s Nordic unit

In a deal worth $1.7 billion, Discovery Communications has agreed to buy 12 television networks from German broadcaster ProSiebenSat.1 Media AG. The deal represents Discovery’s largest single acquisition to date.

ProSiebenSat.1’s SBS Nordic unit comprises television networks in Norway, Sweden, Denmark and Finland.

Based in Silver Spring, Maryland, Discovery is also taking a 20 per cent stake in Societe Television Francaise 1 (TFI)’s Eurosport channel for $221.6 million in a partnership that would potentially allow it to take full ownership after two years.