The four-year deal will start in January and hands all sales responsibilities for Discovery's 13 UK channels to BSkyB.
Discovery UK channels include Animal Planet, DMAX and Discovery Travel. It is unclear how ad revenue will be split between Discovery and BSkyB.
Discovery accounts for 15% of airtime owned by Sky Media.
BSkyB and Discovery were locked in a legal battle over the terms of the existing contract, which was due to expire at the end of the year. Discovery had argued that a clause in the deal guaranteed it extra revenue if its channels reached certain viewing targets.
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