NBC News acquired 25 percent of Euronews, a widely recognized brand in Europe with nearly 500 journalists, the companies announced on Wednesday.
“If we had started with a blank slate we still could not have designed a better partner for NBC News as we look to strengthen our global reach. Euronews has unmatched scale as well as the unique ability to offer international coverage rooted in a local sensibility in every country and language it spans,” NBC News chairman Andy Lack said in a statement.
NBC’s funding will help expand news coverage and programming across Europe. Media Globe Networks will continue to be the majority shareholder in Euronews, and the existing public shareholders will remain in the company.
“The expertise of NBC News combined with the uniqueness of Euronews’ European DNA, will allow us to fully realise our ‘All Views’ editorial philosophy. This unrivalled collaboration reflects our shared commitment to unbiased reporting. It also strengthens Euronews’ mission to empower people around the world with independent information they can trust. In the competitive international news market, Euronews aims to be the go-to media outlet for expertise on European affairs,” Euronews CEO Michael Peter said. “This is a new age for Euronews and we are pleased to partner with the outstanding NBC News team.”
Earlier this year, NBC News shook up its executive structure, with “Today” executive producer Noah Oppenheim taking over as president and former president Deborah Turness becoming the first president of NBC News International.
Turness will lead the NBC side of the collaboration in partnership with Peters.
“Euronews is a unique news organization, with unparalleled reach in 12 languages,” Turness said. “Together NBC News and Euronews will strengthen and deepen the commitment to European journalism and the ‘All Views’ brand. We will create compelling programming and content that will give voice to the people, the views and the diversity of Europe. It’s an immensely exciting time to be investing in Europe’s story.”
Euronews and NBC News will share resources as part of the deal.