May 13, 2019 (NEW YORK) – International law firm Proskauer represented longtime client Discovery Inc. in its acquisition of Golf Digest, one of the world’s leading golf media brands, from Condé Nast. With the acquisition, Discovery adds Golf Digest to its groundbreaking GOLFTV offering, which includes international media rights for the PGA TOUR, European Tour, Ladies European Tour and the Masters, as well as content partnerships with Tiger Woods and Francesco Molinari.
Golf Digest is one of the premier media brands in golf, with more than 60 million video views and 4.8 million readers monthly across all platforms.
A global leader in real life entertainment, Discovery delivers over 8,000 hours of original programming each year. Proskauer has represented Discovery in numerous headline matters, including its $2 billion+ strategic partnership with the PGA Tour to form GOLFTV; its £300 million partnership with the BBC that includes the launch of a global direct-to-consumer streaming video service; its joint venture with The Enthusiast Network; and its strategic partnership with Group Nine Media, which included a $100 million minority investment.
Proskauer’s Technology, Media and Telecommunications (TMT) Group is a market leader in structuring and negotiating the deals that shape the way consumers access and view content. The group recently has advised on several transformative transactions, including The Stars Group’s formation of a first-of-its-kind media and sports wagering partnership in the U.S. with FOX Sports.
The Proskauer team representing Discovery was led by partner and TMT Group co-head Rob Freeman and partner Lauren Boglivi (Private Equity and Mergers & Acquisitions) and included associate Carlu Franceschini (TMT) and associates Andrew Santimays, Charlie Peskowitz and Alexa Singh (Corporate).