December 17, 2019 (NEW YORK) – International law firm Proskauer represented longtime client Discovery Inc. in its acquisition of Latin American Golf, S.L., which operates Golf Channel Latin America, a 24-hour pay-tv channel and the region’s digital destination for golf, from Simple Networks LLC and Inversiones Bahia. With the acquisition, Discovery adds Golf Channel Latin America 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 Channel Latin America offers a wide range of premium golf content and coverage of PGA TOUR tournaments, including more than 36 exclusive live events, reaching more than 10 million pay-tv subscribers across 17 countries in the region.
A global leader in real life entertainment, Discovery delivers over 8,000 hours of original programming each year. Proskauer has represented Discovery in numerous strategic acquisitions and joint ventures around the world, including its $2 billion+ strategic partnership with the PGA Tour to form GOLFTV; its acquisition of premier golf media brand Golf Digest from Condé Nast; its £300 million partnership with the BBC that included 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 Mergers & Acquisitions Group is one of the premier practices in the legal field, handling some of the most high-profile deals globally. Our reach and experience crosses borders with a transactional presence in the United States, Latin America, Europe and Asia, and includes representations across diverse industries, including media and sports.
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 is led by partners Lauren Boglivi and Andrew Kleiman (Mergers & Acquisitions) and partner and Technology, Media & Telecommunications Group co-head Rob Freeman, and includes associates Nirali Koh and Neel Sheth (Mergers & Acquisitions) and partner Richard Corn and associate Amy Zelcer (Tax).