French broadcaster TF1 said it was weeks away from signing a strategic alliance with Discovery Communications that could see the U.S. group take a 20 percent stake in the Eurosport channel. The alliance, which is being presented to staff representatives, would also see Discovery take a 20 percent stake in other channels including regional Breton station TV Breizh, Histoire, Ushuaia TV and lifestyle channel Stylia.Discovery would pay around 184 million euros ($239.9 million) in total and would be granted the option to take its stake in Eurosport to 51 percent and to 49 percent in the other channels, TF1 said on Thursday."The agreement should be signed in the coming weeks," the broadcaster said.
Discovery Communications, Inc. (Discovery) is a global nonfiction media and entertainment company that provide programming across multiple distribution platforms worldwide. Shares of DISCA fell by 0.03% or $-0.02/share to $61.49. In the past year, the shares have traded as low as $39.33 and as high as $63.20. On average, 1300050 shares of DISCA exchange hands on a given day and today's volume is recorded at 1070546.
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