Discovery Communications / DISC

About Discovery Communications

1 Discovery Pl., Silver Spring, Md. 20910
www.discoverycommunications.com | 240-662-2000 | Founded: 1985

Industry: Media/Data | Category: Public Companies

Discovery Communications turned 20 last year, and investors worked themselves up over the possibility that the Silver Spring cable programmer might go public. But Advance/Newhouse Communications Inc. and Cox Communications Inc., two of Discovery's four owners, had other ideas. Nonetheless, last spring, Liberty Media Corp. spun off its roughly 50 percent stake in Discovery into a new public company called Discovery Holdings Inc.
Discovery executives were just as happy not to have to manage quarter to quarter and to keep plowing profits back into the business. In 2005, the company announced an investment of $100 million over several years in its newest division, Discovery Education, which has begun selling a video encyclopedia to schools. A version for home use debuted in March of this year.
The company spent $500 million on original programming last year to help turn around ratings at one of its flagship networks, TLC, which saw its ratings rise and then fall along with the popularity of the home decorating show "Trading Spaces." To cut back on expenses, Discovery centralized its television production and content development for the Internet, video on demand and other new media.
In November, Discovery took a newsy turn, signing former "Nightline" anchor Ted Koppel. The veteran newsman said Discovery was a "better fit" with his brand of sober journalism than other outlets that had made offers to him, such as HBO.

Founder and Chairman: John S. Hendricks

2005 Financial Data

Revenues: $2,700,000,000
Total employees: 6,000 | Local employees: 2,500