THE DEAL: The parent company of the Discovery Channel is buying 12 TV networks in Norway, Sweden, Denmark and Finland in a deal worth about $1.7 billion. The acquisition also includes SBS Nordic's 19 radio stations and other assets.
WHY?: Discovery Communications Inc. said the deal with German TV company ProSiebenSat.1 Group for its SBS Nordic operations expands its presence in the Nordic markets and adds general entertainment, scripted and sports programming to its lineup of services for the first time.
OTHER NEGOTIATIONS: Discovery said it continues to negotiate with Paris-based media group TF1 to buy 20 percent stake in Eurosport, Europe's leading sports network, for about $221.6 million.