NBC News and Euronews today announced the closing of a transaction in which NBC News is making a significant financial investment in Euronews. NBC News is acquiring 25% of the company, with the funding going to support expanded news coverage and programming across Europe.
Media Globe Networks will continue to be the majority shareholder in Euronews, and the existing public shareholders will remain in the company and continue to ensure its European focus and sensibility. The company’s TV and digital platforms will ultimately be co-branded EuronewsNBC.
Euronews is a widely recognized brand in Europe with nearly 500 journalists, reaching 434 million homes across 158 countries, in 12 languages, on television and on digital platforms.
Andrew Lack, Chairman of NBC News and MSNBC said “If we had started with a blank slate we still could not have designed a better partner for NBC News as we look to strengthen our global reach. Euronews has unmatched scale as well as the unique ability to offer international coverage rooted in a local sensibility in every country and language it spans.”
Michael Peters, CEO of Euronews said: “The expertise of NBC News combined with the uniqueness of Euronews’ European DNA, will allow us to fully realise our ‘All Views’ editorial philosophy. This unrivalled collaboration reflects our shared commitment to unbiased reporting. It also strengthens Euronews’ mission to empower people around the world with independent information they can trust. In the competitive international news market, Euronews aims to be the go-to media outlet for expertise on European affairs. This is a new age for Euronews and we are pleased to partner with the outstanding NBC News team.”
Deborah Turness (pictured), President of NBC News International, will lead the NBC side of the collaboration, providing editorial and programming leadership as well as strategic guidance. She will work in partnership with Peters.
“Euronews is a unique news organization, with unparalleled reach in 12 languages,” Turness said. “Together NBC News and Euronews will strengthen and deepen the commitment to European journalism and the ‘All Views’ brand. We will create compelling programming and content that will give voice to the people, the views and the diversity of Europe. It’s an immensely exciting time to be investing in Europe’s story.”
The coming together of the two big brands will see Euronews access NBC’s newsgathering, digital content and programming expertise. Likewise, Euronews will provide news content and resources from Europe for use on NBC News and MSNBC programs and platforms.
(Source: Euronews press release)