Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) will buy ProSiebenSat.1 Group’s SBS Nordic operations, including 12 television networks, for $1.7 billion.
The networks are in Norway, Sweden, Denmark and Finland. Discovery hopes the deal will solidify its growth in the Nordic television markets.
The company expects the transaction to expand its brand portfolio by adding general entertainment, scripted and sports programming.
ProSiebenSat.1 is a German television company with 29 stations and a viewing audience of about 62 million households.
Discovery is a nonfiction media company with 153 television networks, and several joint-venture networks, including OWN: Oprah Winfrey Network.