Discovery adds to stable with $30m Golf Digest buy
It has been going for almost 70 years and now the famous brand of Golf Digest has had just the third ownership change in its history after being sold to Discovery Inc by previous owners Conde Naste.
US sources claim that joining forces with Discovery’s GOLFTV, which is the company’s new line and on-demand video streaming service, will enable Golf Digest to reach more golfers, in more ways and in greater depth than ever.
The deal was reportedly worth more than $US30m.
It is also expected to create a powerful programming engine by adding Golf Digest to GOLFTV’s offerings that already include exclusive carriage of the PGA Tour, the European Tour, and the Ladies European Tour, as well as The Masters tournament, in select territories outside the US and Discovery’s exclusive global content partnerships with Tiger Woods.
The addition of Golf Digest boosts Discovery’s global golf eco-system with a leading platform in the US, which will allow the company to now reach golf fans with everything associated with the game, including instructional videos, equipment advice, course rankings, travel destinations, on-line bookings and more.
“Golf Digest is a world-class brand that has become the ‘go-to’ authority for millions of golf enthusiasts, professional players and global advertisers,” said the president and CEO of Discovery Inc. David Zaslav
“It’s a natural strategic fit with Discovery’s goal to be the leading golf media platform in the world.”
“Through our investments with the PGA Tour, the European Tour and our partnership with Tiger Woods, we wanted to bolster GOLFTV’s international offerings with Golf Digest’s award-winning journalism, broad consumer reach and deep content library while also creating the largest US digital golf business.”
Australia was named as one of the key target areas, Discovery’s acquisition of Golf Digest is set to bolster the content already offered by Australian Golf Digest under its publishing licence with Golf Digest, including print, digital and via its on-line video platform.