Discovery & BBC Reignite Global Content Deal With SVOD & UKTV Agreement, Six Years After Ending Previous Pact
Discovery and the BBC are swimming off into the wild together again with a landmark agreement that i..
Discovery and the BBC are swimming off into the wild together again with a landmark agreement that includes a ten-year programming partnership to power a global SVOD service, a significant development arrangement and the division of assets at UK broadcaster UKTV.
This comes six years after Discovery and the BBC ended its previous partnership; the two companies previously worked together on shows such as Frozen Planet and Blue Planet but ended the arrangement in 2013, which lead to BBC America becoming the BBCs U.S. partner on a number of its landmark natural history series in the last five years.
The new deal, which is effective in all territories outside of the UK, Ireland and China, makes Discovery the exclusive SVOD home of BBC natural history series including titles such as Planet Earth, Blue Planet, Life and Dynasties as well as future BBC-commissioned landmark series from BBC Studios. The agreement also covers hundreds of hours of library factual content, all of which will power Discoverys forthcoming global streaming service, which is set to launch by 2020.
Discovery and BBC Studios will also co-fund a dedicated development team at the British production division of the public broadcaster to create new blue-chip wildlife series. This comes after Discovery ordered wildlife conservation documentary The Red List from BBC Studios Natural History Unit. The show, which is produced and directed by Steve Greenwood and focuses on conservationists around the world, was BBC Studios first non-BBC-commissioned title after it was spun off into a commercial division last year.
Finally, the deal sees the two companies finally come to an agreement on the future of UKTV. Discovery became a co-owner of the broadcaster, which operates ten channel brands, when it bought Scripps last year. The deal to cut up the broadcaster is expected to be complete in late spring 2019.
Discovery will take full control of lifestyle channels Good Food, Home and Really and will add it to its existing portfolio of 16 channels in the UK. Discoverys UK chief James Gibbons will oversee the channels.
Meanwhile, BBC Studios has acquired the other seven channels including Flack co-producer W, Alibi, Dave, Drama, Eden, Gold and Yesterday as well as digital service UKTV Play. These channels are most closely connected to BBC content. Marcus Arthur, President, UK, Ireland & ANZ, BBC Studios Distribution will become CEO of UKTV following the completion of the deal, replacing Darren Childs, who stepped down earlier this year after eight years in charge.
BBC Studios will pay £173M to Discovery for the majority of UKTV channels, which includes a balancing payment in relation to the channels acquisition and the assumption of £70m of debt, currently financed by Discovery. This will be financed through existing borrowing facilities. Discovery will also receive at least an additional £10m from UKTV, as the parties will share the existing cash on the companys balance sheet, reflecting outstanding dividend, and other ancillary value transfers to Discovery through the transaction. BBC Studios and Discovery have also agreed a short-term programming team for the supply of BBC Studios lifestyle content to Discoverys UKTV channels in the UK.
Discovery President and CEO David Zaslav said, “As the two market leaders in landmark natural history and iconic factual programming, Tony and I look forward to working together again – our teams represent over 100 years of combined experience. Discovery will be taking that expertise and creating the definitive global streaming product for curious and passionate viewers of all generations who want the most trusted, family friendly storytelling in the world.”
“From the planets to the poles, and documenting every species in between, the world has always bRead More – Source
