Discovery to Pay $2 Billion to Distribute PGA Tour Globally

Discovery to Pay $2 Billion to Distribute PGA Tour Globally

It is a move that has been described as "pioneering" by the PGA Tour on their official website, as they hope to create "an worldwide multi-platform home for golf". The PGA pact gives Discovery the rights to carry marquee events like the Players Championship, the FedExCup Playoffs and the biennial Presidents Cup.

The 12-year partnership involves the development of a new PGA Tour-branded video streaming service, the company said.

Discovery has struck a landmark deal to acquire the worldwide television rights to PGA Tour golfing. The PGA deal will be overseen by Eurosport executive Alex Kaplan, who joined Discovery a year ago from the National Basketball Association, where he was Senior Vice President, Global Media Distribution.

The deal gives the PGA Tour a partner with global distribution expertise and OTT video chops.

By partnering with Discovery, the PGA Tour will gain an experienced partner helping it to determine the best global distribution and broadcast partner strategy as it looks to diversify its fan base.

This story was delivered to Business Insider Intelligence "Digital Media Briefing" subscribers hours before appearing on Business Insider.

Prior to joining Discovery he was SVP, global media distribution for the National Basketball Association and also spent 10 years at DirecTV/AT&T.

The deal could help the tour reach new fans around the world.

Half of the PGA's top 50 players are from outside the United States, including two from China, which creates lots of opportunities, Zaslav said.

PGA Tour commissioner, Jay Monahan, added: 'This is an exciting next step for the PGA TOUR, which presents a tremendous opportunity to accelerate and expand our media business outside the United States, better service our worldwide broadcast partners, and drive fan growth with a deeply experienced strategic global partner'. This partnership aligns very well with the opening of PGA Tour offices in London, Tokyo and Beijing in recent years and will support our long-term objectives of growing the game of golf.

The investment - paid out over the course of the partnership - will also fund the creation of a new OTT video platform for global golf fans that will serve 220 markets and territories worldwide, excluding the USA, set to launch January 1, 2019.

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