American group Discovery Communications to take control of Eurosport International (51%)

US media company Discovery Communications will increase its interest in Eurosport International from 20% to 51%, announced the French broadcaster TF1, Eurosport majority shareholder, on the 21/01/2014. "This transaction will create a leading portfolio of pay-TV networks across Europe," said Discovery Communications.

Discovery Communications had acquired 20% of Eurosport International and Eurosport France from TF1 on the 21/12/2012 for € 170 million. Under an agreement between the two groups, Discovery was able to exercise an option to increase its holdings in Eurosport to 51%, effective 21/12/2014. This acquisition of control of Eurosport International happens "nearly a year before the date specified in the original agreement," said TF1, on 21/01/2014.

"TF1 will retain its 80% stake in Eurosport France at least until 01/01/2015...TF1 retains the ability to exercise its option to sell its remaining 49%, which could increase Discovery's participation to 100%," said TF1 on 21/01/2014.

• "The closing of the transaction will depend on the standard conditions, that is to say, its…