Discovery Communications and Liberty Global form JV to buy All3Media

|About: Discovery Communications,... (DISCA)|By:, SA News Editor

Discovery Communications (DISCA +2.6%) and Liberty Global (LBTYA) announces that they have struck a deal to form a joint venture to acquire All3Media from P-E firm Permira and other parties.

The deal price of £550M ($930M) for All3Media reps a multiple of close to 8.5X EBITDA per share.

The 50-50 JV will operate All3Media under its current name.

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