Discovery has acquired Golf Digest from Condé Nast.
Golf Digest claims to be the world’s No. 1 golf media brand and will extend Discovery’s global golf media business to the US market through Golf Digest’s multiplatform distribution and reach.
Terms of the deal weren’t disclosed. Discovery paid $35 million for Golf Digest, according to the New York Times, while the New York Post put the price tag at around $30 million after Discovery beat out other suitors including NBC Sports Group.
The acquisition adds Golf Digest to Golf TV’s offerings that already include carriage of the PGA Tour, the European Tour, and the Ladies European Tour, as well as the Masters Tournament, in select territories outside the US and Discovery’s exclusive global content partnerships with Tiger Woods and Francesco Molinari.
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. Through our investments with the PGA TOUR, the European Tour and our partnership with Tiger Woods, we wanted to bolster Golf TV’s international offerings with Golf Digest’s award-winning journalism, broad consumer reach and deep content library while also creating the largest U.S. digital golf business. Jay Monahan and the PGA Tour have been great partners and we are excited to expand our mutual vision to bring these amazing players and all of their terrific play to more people on more devices in every market in the world.”
Discovery will seek to optimise its exclusive global partnership with Tiger Woods across both Golf Digest and PGA Tour platforms. Golf TV is collaborating with Woods on a range of content, such as deep-dive instruction to help players improve their game, which began filming last month, and exclusive access to his tournament preparation. The unique collaboration offers an authentic look into the life, mind and performance of the game’s ultimate icon.
Tiger Woods said: “This is an important step in enhancing and expanding the US and global reach of Discovery and GOLFTV. It gives me another platform to tell my story directly to fans and makes my partnership with Discovery even stronger. This acquisition, along with what Discovery and Golf TV have already done with the PGA Tour, is great for the game of golf.”
Alex Kaplan, President and General Manager, Discovery Golf, said: “This is a big deal for Discovery to add Golf Digest to our golf portfolio. Adding Golf Digest to Golf TV and our existing PGA Tour, European Tour, Tiger and Francesco content will be a big win for the sport. We are offering something unique, whether you’re a fan, player, viewer, brand or advertiser. We can utilize the strengths of both Golf Digest and our burgeoning Golf TV platform, establishing a global editorial powerhouse delivering content across all platforms to engage and inspire millions of passionate golf fans around the world.”
Discovery will seek to leverage its global scale, with reach into 220 markets and territories, to further grow the Golf Digest brand around the world. Golf Digest, which earns nearly half of its revenues from digital advertising, will continue to publish a US monthly print magazine and Discovery will assume the global licenses for editions serving nearly 70 countries.
Golf Digest’s editorial team will join Discovery Golf under the continued leadership of Jerry Tarde, as Editor-in-Chief, Golf Digest, and Global Head of Strategy and Content, Discovery Golf. In addition to overseeing the world-class editorial content of Golf Digest, Tarde will expand his purview to include GOLFTV and report to Alex Kaplan, President and General Manager, Discovery Golf.
