U.S. network NBC News has sold its stake in the broadcaster Euronews, according to an email sent to Euronews staff and seen by POLITICO.
The move brings to an end a three-year partnership between the U.S. broadcaster and the pan-European news channel. It also means that Euronews majority owner Media Globe Network (MNG) increases its share of the company to almost 90 percent.
“MGN has increased its shares from 63% to 88%, after reaching a deal on 15 April 2020 with NBC News to acquire their 25% stake in Euronews,” said the company-wide email by Euronews chief executive Michael Peters.
It added that Comcast, the company that owns NBC News, acquired satellite broadcaster Sky in 2018 and is expected to launch “new international news channel NBC Sky World News” at a future date.
“While our strong European identity and focus sets us apart, Euronews and NBC Sky World News will both undoubtedly be operating on the same international news channel market,” the email said.
Peters wrote that MGN’s acquisition of the NBC stake is “a welcome move for both Euronews and NBC News [and] … also a vote of confidence for Euronews by its existing majority shareholder.”