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May 13, 2019, 9:36 a.m. EDT

Discovery acquires Golf Digest

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By Tonya Garcia

Discovery Inc. /zigman2/quotes/200511275/composite DISCA -3.88% /zigman2/quotes/204961565/composite DISCB -0.02% /zigman2/quotes/201842100/composite DISCK -4.07% said Monday that it has acquired Golf Digest magazine from Condé Nast. Discovery already has GolfTV in its portfolio and is expanding its 12-year relationship with the PGA Tour. Discovery also hopes to "optimize" its relationship with Tiger Woods, with the resurgent golf superstar collaborating with GolfTV on content. Golf Digest is said to have 4.8 million readers and 2.2 million social-media followers. Financial details of the transaction were not disclosed. Discovery shares are down 1.3% in early Monday trading but up 13.6% for the year to date. The S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.54% is up 13% for 2019 so far.

/zigman2/quotes/200511275/composite
US : U.S.: Nasdaq
$ 29.01
-1.17 -3.88%
Volume: 4.10M
July 30, 2021 4:00p
P/E Ratio
19.87
Dividend Yield
N/A
Market Cap
$14.76 billion
Rev. per Employee
$1.09M
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/zigman2/quotes/204961565/composite
US : U.S.: Nasdaq
$ 52.00
-0.01 -0.02%
Volume: 908.00
July 30, 2021 11:28a
P/E Ratio
35.62
Dividend Yield
N/A
Market Cap
$14.76 billion
Rev. per Employee
$1.09M
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/zigman2/quotes/201842100/composite
US : U.S.: Nasdaq
$ 27.11
-1.15 -4.07%
Volume: 1.72M
July 30, 2021 4:00p
P/E Ratio
18.57
Dividend Yield
N/A
Market Cap
$14.76 billion
Rev. per Employee
$1.09M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,395.26
-23.89 -0.54%
Volume: 2.22B
July 30, 2021 4:20p
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