Discovery buys Takhayal Entertainment
Discovery Communciations has developed a taste for Middle Eastern food.
The cable programming giant whose holdings include Discovery Channel and TLC has struck a deal to acquire Dubai-based Takhayal Entertainment, the parent company of Fatafeat, a popular food network in the region.
“The acquisition of Takhayal, the premier company for cuisine and culinary programming in the Middle East, significantly strengthens our portfolio in this important region and adds content in a genre that has proved popular with our viewers around the globe,” said Mark Hollinger, chief executive of Discovery Networks International.
Terms of the agreement were not disclosed, but people with knowledge of the transaction put the price at less than $10 million.
The purchase is the latest move by Discover to boost its international holdings. Besides distributing its own channels abroad, it is looking to acquire networks and production companies. Discovery is also in talks to partner with French media holding company TF1 Group, which owns the European sports network Eurosport.
Launched in 2005, Takhayal Entertainment is distributed in 14 countries in the Middle East.
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