NBC News takes 25% stake in Euronews

NBC News is due to close its acquisition of a 25% stake in Euronews this week, with the France-based news channel due to be rebranded EuronewsNBC.

NBC will pay a reported US$30 million for the stake, with Euronews due to use the investment to staff up and expand its news coverage and programming.

Deborah Turness is set to oversee the EuronewsNBC partnership from NBC’s side, working in partnership with Euronews CEO Michael Peters.

News of the deal emerged in February after NBC News chief Andy Lack revealed the move in an internal memo to NBC staff.

Lack reportedly told staff that NBC would invest in European journalism and strengthen the depth and pace of Euronews’ reporting.

He also said that Noah Oppenheim, the executive in charge of the flagship Today programme, would take over from Deborah Turness as the US news network’s president.