Discovery acquires Golf Digest from Condé Nast to bolster GolfTV channel
Media giant Discovery has acquired magazine brand Golf Digest from Condé Nast for an undisclosed sum. The move helps Discovery build out its golf credentials globally while also populating and publicising the GolfTV platform it launched late last year.
GolfTV and Golf Digest to be integrated
Golf Digest boasts each month, 60m video views, 4.8 million readers and 2.2 million social followers. With the move, Discovery said it has created the largest digital golf media business in the US and a substantial global entity that can directly attract golf fanatics into its subscriptions.
Furthermore, Discovery said it has created “a powerful programming engine” that spans Golf Digest, Eurosport Gold and partner PGA Tour's content, in addition to spots and lessons from Tiger Woods and Francesco Molinari. It now delivers instructional videos, equipment advice, course rankings, travel destinations, online bookings to subscribers.
The Golf Digest sales teams will operate until after the Discovery and PGA Tour sales integration is complete.
David Zaslav, president and chief executive of Discovery, 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 GolfTV’s international offerings with Golf Digest’s award-winning journalism, broad consumer reach and deep content library while also creating the largest US digital golf business.
“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.”
Alex Kaplan, president and general manager of Discovery Golf added: “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 GolfTV platform, establishing a global editorial powerhouse delivering content across all platforms to engage and inspire millions of passionate golf fans around the world.”
With the combined entity, Discovery said it hopes to reach 220 markets and territories. Golf Digest currently earns “nearly half of its revenues from digital advertising”, Discovery hopes the global expansion will expand this income. Meanwhile, it will continue to publish a US monthly print magazine, with additional licences serving nearly 70 countries.
Seller Conde Naste is looking to repitch itself as a video publisher much in the vein of Discovery. The golf property looked to be a better fit with the Golf broadcaster.