Discovery Inc. (NAS:DISCA) (NAS:DISCB) (NAS:DISCK) 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 (S&P:SPX) is up 13% for 2019 so far.
May 13, 2019, 9:36 a.m. EDT