Discovery Communications Takes 20 Percent Stake in French Lifestyle Channels Expert Televista
NEW YORK - Discovery Communications, led by CEO David Zaslav, said Tuesday that its Discovery Networks International unit has acquired a 20 percent stake in French pay TV firm Televista, which specializes in the female lifestyle space.
Financial details weren’t disclosed. Under the deal, DNI will contribute to the development of Televista's female lifestyle channels business via strategic counsel and access to its library of programming. The equity investment supplements a content agreement announced in January and males Discovery a key partner for Via, a female lifestyle digital terrestrial TV (DTT) channel project that Televista has been working on with support from French investment funds.
It applied for a female lifestyle DTT channel in January. Local French programming made by Via will get the chance to reach beyond the country via Discovery's network of female lifestyle channels around the world, including global franchise TLC and Real Time in Italy.
“France is a very important market for us and we are delighted to be able to make this investment in Televista," said Dee Forbes, president and managing director, Discovery Networks Western Europe.
“Discovery will bring both expertise and content we need to accelerate our development, especially in free DTT channels where Discovery is already present in Italy, Spain and Germany," said Televista CEO Gaspard de Chavagnac.
Discovery has also launched a series of free to air channels across Western Europe over the last three years to complement its core pay TV business.