Discovery Communications has completed its acquisition of the SBS Nordic operations of ProSiebenSat.1 Group, adding 12 TV networks, radio stations and several digital brands to its roster in the region.

These new properties will be combined with Discovery's existing portfolio of eight brands in Norway, Sweden, Denmark and Finland, to form a combined regional business that will be known as SBS Discovery Media.

"The formation of SBS Discovery Media solidifies Discovery's long-term growth in some of the most well-penetrated and stable TV markets in the world, while also expanding Discovery's brand portfolio by adding scripted entertainment programming to the company's suite of genres," says David Zaslav, president and chief executive officer, Discovery Communications. "This acquisition, along with the recent announcement of Discovery's equity stake in Eurosport, is a continuation of a 25-year strategy of investing internationally to build the most extensive global footprint in media and extending our presence in key markets to support long-term growth and diversify the company's offerings."