MUMBAI: Discovery Communications has completed the acquisition of the SBS Nordic operations of ProSiebenSat.1 Group, originally announced in December 2012. Discovery has purchased SBS Nordic for a total enterprise value of approximately $1.7 billion.

The acquisition adds 12 television networks, as well as leading radio stations and several digital brands, to Discovery?s existing portfolio of eight brands in Norway, Sweden, Denmark and Finland, to form a combined regional business to be known as SBS Discovery Media.

"The formation of SBS Discovery Media solidifies Discovery?s long-term growth in some of the most well-penetrated and stable TV markets in the world, while also expanding Discovery?s brand portfolio by adding scripted entertainment programming to the company?s suite of genres," said Discovery Communications president and CEO David Zaslav.

"This acquisition, along with the recent announcement of Discovery?s equity stake in Eurosport, is a continuation of a 25-year strategy of investing internationally to build the most extensive global footprint in media and extending our presence in key markets to support long-term growth and diversify the company?s offerings."

Along with the closing of the transaction, Discovery also announced the appointment of Henrik Ravn as President and Managing Director of the newly combined SBS Discovery Media business, which includes both Discovery?s and SBS?s networks and operations in the Nordic region. Ravn has led the SBS Nordic business since 2009.

Ravn joined SBS in November 2003 as CEO of the TV business in Denmark, and has served as CEO of SBS Nordic since 2009. His prior experience includes senior television marketing, programming and management roles with Viasat/MTG, TV2 in Denmark and Yousee. He was previously head of programming for TV 3 in Denmark, where he led the launch of Channel 3+, the first large niche network in the country.

Filling out the SBS Discovery Media senior management team will be Christian Kemp as CEO Denmark, Jonas Sjogren as CEO Sweden/Finland, Harald Stromme as CEO Norway, Hans van Rijn as Business Development Director, Eivind Landsverk as Programming & Content Director and Quinton Holland as CFO.

Also on the senior team is Jan Andreassen , the leader of Discovery?s Nordic business, who will serve as a key member of the integration team, working closely with Ravn and the rest of senior management to counsel on operational and strategic issues for the combined entity. Finally, Darren Campbell from Discovery will serve as Vice President of Human Resources.