Discovery : Acquires Golf Channel Latin America

-Expands Discovery's global, multi-platform golf business with a category leader in Latin America-

-Creates cross-platform content opportunities with GOLFTV and Golf Digest-

-Acquisition of Latin American Golf, S.L., which operates Golf Channel Latin America, from Simple Networks LLC and Inversiones Bahia-

NEW YORK, MIAMI - 17^th DECEMBER 2019 - Discovery, Inc. (Nasdaq: DISCA, DISCB, DISCK) today announced it has acquired Latin American Golf, S.L., which operates Golf Channel Latin America, a 24-hour pay-tv channel and the region's digital destination for golf, from Simple Networks LLC and Fornaluz Productions, S.A., an affiliate of Inversiones Bahia.

The addition of Golf Channel Latin America will expand Discovery's global golf media business in the Latin American market, adding a growing multi-platform golf destination reaching more than 10 million pay-tv subscribers across 17 regional markets that offers extensive coverage of the game, as well as instructional and entertainment programming.

The acquisition will boost Discovery's global golf ecosystem, adding Golf Channel Latin America to a global portfolio that includes GOLFTV powered by PGA TOUR, the digital home of golf, Golf Digest, the world's No. 1 golf media brand, and an exclusive global content partnership with Tiger Woods.

Originally launched in 2006, Golf Channel Latin America offers fans a wide range of premium golf content and coverage of PGA TOUR tournaments, including more than 36 exclusive live events. On television, the network is currently available through the premier pay-tv operators in 17 countries, and provides extensive reporting, analysis and coverage of the game across its digital platforms.

Discovery struck a ground-breaking strategic alliance with the PGA TOUR, announced in June 2018, that included the management of the PGA TOUR's international multi-platform rights. This relationship, combined with the Golf Channel Latin America acquisition, will enable Discovery to optimize and maximize live coverage and programming across all Golf Channel Latin America and GOLFTV screens from January 2020.

'As Discovery continues to grow its offering and engagement with golf fans around the world, we are excited to be expanding our offering in Latin America to supercharge our golf ambitions across the region,' said Alex Kaplan, President and General Manager, Discovery Golf.

'Combining the forces of leading golf destinations such as Golf Channel Latin America, GOLFTV and Golf Digest, in addition to Discovery's extensive brand portfolio and reach, will create an engine for golf content that offers significant opportunities to build scale across every platform,' Kaplan added.

'The incorporation of Golf Channel Latin America into Discovery's portfolio will solidify our brand offering by adding golf to the already wide range of content we offer our viewers,' commented Fernando Medin, President Discovery Latin America/US Hispanic.

'By adding Golf Channel Latin America, we are joining our efforts to the global strategy of making Discovery the true all-screen home of golf. Enlarging Discovery's golf portfolio in the region will allow us to better serve a passionate and growing audience and explore opportunities within new and existing partners,' Medin added.

'Under the ownership and management of Simple Networks and Inversiones Bahia, Golf Channel Latin America grew its distribution by over one million households, increased value through key partnerships with broadcast sponsors and revamped production and operations,' said Jason Markham, co-founder of Simple Networks.

'We are thrilled that Discovery, with its global commitment to golf coupled with its unparalleled media leadership, is adding the channel in Latin America to its global footprint of golf assets. It is a great time to be a golf fan in the region,' Markham concluded.

Discovery first unveiled the GOLFTV brand in October last year with the live and on-demand international video-streaming service launched globally (outside of the United States) in January 2019. During 2019, GOLFTV's offerings in the region already include full live streaming of the European Tour and select PGA TOUR coverage and programming - such as live Feature Group and Feature Hole - each week, as well as premium on-demand content such as the exclusive original series My Game: Tiger Woods shot with the 15-time major champion.

Discovery's aspiration to serve passionate golf superfans was underlined with the separate acquisition of Golf Digest, the world's No. 1 golf media brand, in May 2019. Golf Digest's award-winning editorial content, including news, instructional videos, and rankings, will drive engagement for golf fans around the world and bring more exciting opportunities to partner with the PGA TOUR and all the world-class players.

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NOTES TO EDITORS

More information regarding GOLFTV can be found HERE.

In October 2019, GOLFTV produced MGM Resorts The Challenge: Japan Skins, a new competition which saw Tiger Woods go head to head with reigning FedExCup champion and PGA TOUR Player of the Year Rory McIlroy and multiple-time PGA TOUR winners Jason Day and Hideki Matsuyama in a globally-streamed and televised skins game.

About Discovery:

Discovery, Inc. (Nasdaq: DISCA, DISCB, DISCK) is a global leader in real life entertainment, serving a passionate audience of superfans around the world with content that inspires, informs and entertains. Discovery delivers over 8,000 hours of original programming each year and has category leadership across deeply loved content genres around the world. Available in 220 countries and territories and nearly 50 languages, Discovery is a platform innovator, reaching viewers on all screens, including TV Everywhere products such as the GO portfolio of apps; direct-to-consumer streaming services such as Eurosport Player and MotorTrend OnDemand; digital-first and social content from Group Nine Media; a landmark natural history and factual content partnership with the BBC; and a strategic alliance with PGA TOUR to create the international home of golf. Discovery's portfolio of premium brands includes Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, MotorTrend, Animal Planet, and Science Channel, as well as OWN: Oprah Winfrey Network in the U.S., Discovery Kids in Latin America, and Eurosport, the leading provider of locally relevant, premium sports and Home of the Olympic Games across Europe. For more information, please visit corporate.discovery.com and follow @DiscoveryIncTV across social platforms.

About GOLFTV:

GOLFTV is the new digital home of golf for the global fan community. At the heart of GOLFTV is a live and on-demand video streaming service, showing every moment of the PGA TOUR, European Tour and Ladies European Tour, featuring the world's greatest players, to a global audience every week. Established with innovation at its core, GOLFTV brings new drive, creativity and immersive technology to the world of golf. It aspires to offer fans a new way to consume, watch, play and engage with the game every day. GOLFTV is part of Discovery, a global leader in real-life entertainment with an extensive portfolio of direct-to-consumer platforms. Visit GOLF.TV and follow @GOLFTV on Twitter for the latest updates.

About Simple Networks:

Simple Networks works with a variety of funding sources to identify opportunities in media and telecom in Latin America and the United States. It is comprised of a diverse team of professionals, with deep management, technical and financial experience. Current projects involve new wireless, satellite and fiber-based telecom networks, Pay-TV/OTT distribution, a specialized MVNO for the healthcare industry, and golf-related products.

About Inversiones Bahia:

Inversiones Bahía, Ltd. is a leading Private Equity group based in Panama that, together with its affiliates, invests in and actively oversees a broad portfolio of companies. The group has an extensive and successful history of investments throughout Latin America and United States over the past thirty years in core sectors such as: Air Transportation, Banking, Insurance, Energy, Telecommunications, Media, Distribution and Retail, Ports and Real Estate.