Discovery Communications Inc., of Silver Spring, a media company that owns 155 television networks worldwide, said it completed the acquisition of the SBS Nordic operations of ProSiebenSat.1 Group.
The acquisition, first announced in December, adds 12 television networks to Discovery’s existing portfolio of eight networks in Norway, Sweden, Denmark and Finland, as well as several radio stations and digital brands. News reports said Discovery paid $1.7 billion for the SBS Nordic business, now called SBS Discovery Media.
Discovery also announced the appointment of Henrik Ravn as president and managing director of SBS Discovery Media. Ravn has led the SBS Nordic business since 2009.