NBC News has closed a transaction in which it has acquired a 25% stake in Euronews.
The news of the NBC investment was first confirmed last Feburary.
Media Globe Networks will continue to be the majority shareholder in Euronews, and the existing public shareholders will remain in the company and continue to ensure its European focus and sensibility. The company’s TV and digital platforms will ultimately be co-branded EuronewsNBC.
Commenting on the development, Andrew Lack, chairman of NBC News and MSNBC, said: “If we had started with a blank slate we still could not have designed a better partner for NBC News as we look to strengthen our global reach. Euronews has unmatched scale as well as the unique ability to offer international coverage rooted in a local sensibility in every country and language it spans.”
Michael Peters, CEO of Euronews, added: “The expertise of NBC News combined with the uniqueness of Euronews’ European DNA, will allow us to fully realise our ‘All Views’ editorial philosophy. This unrivalled collaboration reflects our shared commitment to unbiased reporting. It also strengthens Euronews’ mission to empower people around the world with independent information they can trust. In the competitive international news market, Euronews aims to be the go-to media outlet for expertise on European affairs. This is a new age for Euronews and we are pleased to partner with the outstanding NBC News team.”
Deborah Turness, president of NBC News International, will lead the NBC side of the collaboration, providing editorial and programming leadership as well as strategic guidance. She will work in partnership with Peters.
She said: “Euronews is a unique news organization, with unparalleled reach in 12 languages.
“Together NBC News and Euronews will strengthen and deepen the commitment to European journalism and the ‘All Views’ brand. We will create compelling programming and content that will give voice to the people, the views and the diversity of Europe. It’s an immensely exciting time to be investing in Europe’s story.”
The coming together of the two big brands will see Euronews access NBC’s newsgathering, digital content and programming expertise. Likewise, Euronews will provide news content and resources from Europe for use on NBC News and MSNBC programs and platforms.
