French broadcaster TF1 has announced that it will exercise a put option on its 49 percent stake in international sports channel group Eurosport as part of an agreement signed with Discovery Communications in December 2012. Discovery will pay EUR 491 million to take full ownership of Eurosport. Discovery bought 20 percent of Eurosport in January 2012 and increased it to 51 percent in 2014. The new agreement includes a provision for TF1 to buy back Discovery's 20 percent interest in French channels TV Breizh, Histoire and Ushaia TV for EUR 15 million. The two transactions are expected to close at the start of the fourth quarter.