Discovery Acquires Golf Digest Magazine From Condé NastMay 13, 2019
Extending its push into golf, Discovery has acquired Golf Digest from Condé Nast, with plans to integrate the magazine-based brand into its GolfTV streaming service and partnership with Tiger Woods.
The $30 million pickup adds to exclusive carriage in some non-U.S. territories of the PGA Tour, the European Tour, and the Ladies European Tour, as well as the Masters Tournament. Discovery also has exclusive content partnerships with Woods and Francesco Molinari, winner of three PGA Tour events and the reigning Open champion.
While the traditional magazine business remains challenged, Golf Digest has developed a digital and social footprint of some note, with 4.8 million digital uniques, 2.2 million social followers and 60 million video views across platforms.
In addition to the Golf Digest deal, Discovery and the PGA Tour are expanding their 12-year strategic partnership with a new content and sales relationship in the U.S., among other initiatives. The organizations will deepen their partnership and join forces to create the largest digital network in golf with a one-stop activation platform, now including Golf Digest, for advertisers to engage with fans and players. This includes editorial coverage, live and on-demand video streaming, digital, social, print and branded content opportunities. The current Golf Digest sales teams will continue to be responsible for ad sales during a transition period until the Discovery / PGA TOUR sales integration is complete.
“Golf Digest is a world-class brand that has become the ‘go-to’ authority for millions of golf enthusiasts, professional players and global advertisers,” Discovery CEO David Zaslav said. “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 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.”
Woods added, “This is an important step in enhancing and expanding the U.S. 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 GOLFTV have already done with the PGA TOUR, is great for the game of golf.”
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