According to Bloomberg, NBC bought a 25 percent stake in Euronews for $30 million. The company is majority owned by Egyptian billionaire Naguib Sawiris, along with a consortium of European broadcasters. Euronews employs almost 500 journalists.
Deborah Turness, the U.S.-based president of NBC News, will head the company’s international news operation, according to a statement from the network Tuesday. Noah Oppenheim, who has been leading the “Today” show, will become the president of NBC News, with both reporting to Andy Lack, chairman of the network’s news division.
The investment will allow NBC to reach out to 277 million new households in 13 languages across Europe, Africa and the Middle East.
Euronews was created in the wake of the 1990 Gulf War as a "European CNN" and used to be owned by a consortium of state-owned European channels before Egyptian billionaire Naguib Sawiris took a 53 percent stake in the broadcaster.
In his memo, Mr. Lack said that “one of the signs of a healthy and thriving newsroom is the ability to find a worthy successor within your own walls.”
Ms. Turness, a 49-year-old native of Britain who was recruited to NBC from ITV News in Britain in 2013, will return to Europe to help manage an initiative that is important to the network and Mr. Lack. (Phil Griffin will remain in charge of MSNBC.)