Discovery, Inc. has acquired Golf Digest from Condé Nast for an estimated $30million-$35million, and indicated that the brand’s content will be integrated into Discovery’s digital platforms.
The acquisition adds 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 U.S. and Discovery’s exclusive global content partnerships with Tiger Woods and Francesco Molinari.
Discovery said it will retain Golf Digest’s editorial team, led by editor-in-chief Jerry Tarde, who also will become global head of strategy and content for Discovery Golf, expanding his purview to include GolfTV. Golf Digest’s ad sales team will reportedly be phased out. Discovery and the PGA TOUR are expanding their 12-year strategic partnership with a new content and sales relationship in the U.S. which will include managing Golf Digest’s advertising and marketing organizations. Discovery said the current Golf Digest sales teams will continue to be responsible for ad sales during a “transition period” until the Discovery/PGA Tour sales integration is complete.
David Zaslav, President and CEO of Discovery, Inc. said: “Golf Digest is a world-class brand that has become the ‘go-to’ authority for millions of golf enthusiasts, professional players and global advertisers. It’s a natural strategic fit with Discovery’s goal to be the leading golf media platform in the world.”
Golf Digest, which earns nearly half of its revenues from digital advertising, will continue to publish a U.S. monthly print magazine and Discovery will assume the global licenses for editions serving nearly 70 countries.
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.
More information: www.golf.tv