Discovery announced the acquisition of Golf Digest from Condé Nast, adding further momentum to the cable programmer’s big multiplatform swing into golf entertainment. It builds on Discovery’s 12-year international rights deal with PGA Tour and an exclusive content deal with golf pro Tiger Woods.
Terms of the deal weren’t disclosed. Discovery is paying around $30 million for Golf Digest’s assets after outbidding NBC Sports Group for the property, the New York Post reported. In 2001, Advance Publications, Condé Nast’s parent company, bought Golf Digest and other golf titles from the New York Times Co. in a deal reportedly worth around $400 million.
Discovery said it will weave Golf Digest’s business into the programmer’s GolfTV streaming-video division, which offers exclusive carriage of the PGA Tour, the European Tour, and the Ladies European Tour, as well as the Masters Tournament, in certain territories outside the U.S. The GolfTV group also encompasses Discovery’s exclusive partnerships with Tiger Woods and Francesco Molinari.