Discovery Communications and Liberty Global have formed a 50:50 joint venture to acquire international television producer and distributor All3Media from its founders and the Permira funds for?550 million ($930 million).

All3Media has a diversified catalog of more than 8,000 hours of content across numerous genres, with strong production capabilities in drama, comedy, factual and factual entertainment programming.

The All3Media group will continue to operate under its own name with its own executive management team, and its existing creative operating model as a standalone, independently managed entity.