NBC News Acquires 25% Of International Network Euronews

Comcast Corp-owned NBC News on Wednesday said it has made a significant investment in international news network Euronews. The dollar amount of the acquisition was not disclosed, but NBC News will acquire 25% of Euronews with the funding going to support expanded news coverage and programming across Europe, according to a news release. "Euronews has unmatched scale as well as the unique ability to offer international coverage rooted in sensibility in every country and language it spans," NBC News Chairman Andrew Lack said in a statement. He also said the partnership is perfect as NBC News looks to strengthen its reach globally. Deborah Turness, who serves as president of NBC News International, will head the NBC side of the operation and will work in partnership with Euronews Chief Executive Michael Peters. Euronews employs nearly 500 journalists and reaches 434 million homes across 158 countries in 12 languages on both TV and digital platforms. Shares of Comcast are up more than 20% in the year to date, while the S&P 500 index is up nearly 8%.