It’s an otherwise troubling time for some sports media titles.
Discovery Inc. acquired Golf Digest from Condé Nast, the parties announced this morning. Terms of the agreement were not made public, but the New York Post, citing persons familiar with the deal, pegged the cost to be about $30 million.
Discovery will continue to publish Golf Digest as a regular, monthly magazine and will bolster coverage including course rankings, instructional videos and travel destinations, the company said this morning.
Discovery positioned the acquisition as a way to grow its reach in the U. S. in addition to its audience with GOLFTV, which has exclusive carriage rights to the PGA Tour, the European Tour and the Ladies European Tour, as well as the Masters Tournament in territories outside the U. S.
“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 David Zaslav, president and CEO of Discovery, Inc.
