NEW YORK, Sept. 18 /PRNewswire-FirstCall/ -- Discovery Communications'
Founder and Chairman John Hendricks and President and Chief Executive Officer
David Zaslav today rang the opening bell at the NASDAQ stock exchange to
commemorate the first day of trading as a public company for the world's
number one nonfiction media company reaching more than 1.5 billion cumulative
subscribers in over 170 countries. The executives were joined by several
on-air personalities from across Discovery's networks, including Bindi and
Terri Irwin (BINDI THE JUNGLE GIRL); Emeril Lagasse (EMERIL GREEN); Stacy
London and Clinton Kelly (WHAT NOT TO WEAR) and Sig Hansen, Phil Harris and
Johnathan Hillstrand, the captains from the Emmy-award winning series
DEADLIEST CATCH.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080918/NETH035LOGO )
"When we launched Discovery Channel in 1985 with 156,000 subscribers in
the U.S., I never could have envisioned that we would become the leading
provider of nonfiction entertainment to more than 1.5 billion cumulative
subscribers around the globe," said Hendricks. "This is truly an historic day
for Discovery and the realization of a dream. As chairman of the newly public
Discovery Communications, I look forward to working with David Zaslav and the
senior management team to continue expanding Discovery's leadership and
delivering value for our shareholders in the years to come."
In conjunction with its first day of trading as a public company,
Discovery unveiled an updated corporate logo and launched a new corporate
website (www.discoverycommunications.com) featuring investor and corporate
governance information, as well as descriptions, facts and a promotional video
for its more than 100 global networks, digital media properties, and consumer
and educational products.
"Today signals a new era for Discovery Communications. As we complete the
transformation from our previous ownership structure to a pure-play, publicly
traded content company, this new structure will provide increased financial
flexibility for our management team to drive innovation and pursue areas of
strategic investment," said Zaslav. "With John Hendricks as our chairman, and
a strong, passionate workforce around the world, the company will continue to
be dedicated to our original mission of satisfying consumers' curiosity about
the world around them, and producing the highest quality nonfiction content in
the world."
Discovery Communications, Inc., was created as a public company through an
agreement between its former shareholders, Discovery Holding Company (DHC) and
Advance/Newhouse Communications, to combine their interests in Discovery into
a new public company. As a result of the transaction, DHC stockholders and
Advance/Newhouse are now stockholders of the new public company, Discovery
Communications, Inc.
Discovery Communications' existing management team, including President
and CEO David Zaslav, will fill all management positions at the company.
Zaslav also will serve on the company's board of directors and company founder
John Hendricks will serve as chairman. The full slate of Discovery
Communications' board of directors is listed below:
-- John S. Hendricks, Founder and Chairman, Discovery Communications
-- Robert R. Beck, Independent Financial Consultant
-- Robert R. Bennett, Managing Director, Hilltop Investments
-- Paul A. Gould, Managing Director, Allen & Company, LLC
-- Lawrence S. Kramer, Senior Advisor, Polaris Venture Partners
-- Dr. John C. Malone, Chairman, Liberty Media Corporation and Liberty
Global, Inc.
-- Robert J. Miron, Chairman, Advance/Newhouse Communications
-- Steven A. Miron, CEO, Bright House Networks
-- M. LaVoy Robison, Executive Director, The Anschutz Foundation
-- J. David Wargo, President, Wargo & Company, Inc.
-- David M. Zaslav, President and CEO, Discovery Communications
Discovery Communications operates more than 100 worldwide television
networks offering customized programming in 35 languages. This includes three
U.S. networks (Discovery Channel, TLC and Animal Planet) that reach more than
90 million homes, and seven networks (Discovery Health, Discovery Kids,
Science Channel, Planet Green, Investigation Discovery, Military Channel and
FitTV) that reach more than 40 million homes, as well as 17 international
entertainment brands. Discovery is also the leading provider of HD
programming in the world, with HD networks operating in 17 international
countries.
Discovery Communications' stock will initially trade on NASDAQ under the
symbols DISAD, DISBD and DISCK for a 20-day period. This is due to the fact
that Discovery Holding Company had traded under the symbols DISCA and DISCB
prior to Discovery Communications becoming public. Following the initial
20-day transition period, Discovery Communications' stock will revert to
DISCA, DISCB and DISCK.
About Discovery Communications
Discovery Communications (Nasdaq: DISAD, DISBD, DISCK) is the world's
number one nonfiction media company reaching more than 1.5 billion cumulative
subscribers in over 170 countries. Discovery empowers people to explore their
world and satisfy their curiosity through 100-plus worldwide networks, led by
Discovery Channel, TLC, Animal Planet, Science Channel, Planet Green,
Investigation Discovery and HD Theater, as well as leading consumer and
educational products and services, and a diversified portfolio of digital
media services including HowStuffWorks.com . For more information, please
visit www.discoverycommunications.com .
"Cumulative subscribers" in the U.S. refers to the collective sum of the
total number of U.S. subscribers to each of Discovery's U.S. channels. A U.S.
subscriber is a single household that receives the applicable Discovery
channel from its cable, satellite or other television provider. The term
cumulative subscribers in the U.S. also includes approximately eight million
cumulative subscribers in Canada who receive direct feeds of TLC and Military
Channel from Discovery networks U.S. Cumulative subscribers outside the U.S.
refers to the collective sum of the total number of international subscribers
to each of Discovery's networks or programming services outside of the U.S.
An international subscriber is a single household that receives the applicable
Discovery network or programming service from its cable, satellite or other
television provider, including those who receive Discovery networks from pay-
television providers without charge pursuant to various pricing plans that
include free periods and/or free carriage.
Forward-Looking Statements
This press release contains certain forward-looking statements based on
current expectations, forecasts and assumptions that involve risks and
uncertainties. These statements are based on information available to the
Company as of the date hereof; and Discovery's actual results could differ
materially from those stated or implied, due to risks and uncertainties
associated with its business, which include the risk factors disclosed in its
Registration Statement on Form S-4 filed with the Securities and Exchange
Commission on August 6, 2008. Forward-looking statements include statements
regarding Discovery's expectations, beliefs, intentions or strategies
regarding the future and can be identified by forward-looking words such as
"anticipate," "believe," "could," "estimate," "expect," "intend," "may,"
"should," "will," and "would" or similar words. Discovery assumes no
obligation to update the information included in this press release, whether
as a result of new information, future events or otherwise.
SOURCE Discovery Communications
-0- 09/18/2008
/CONTACT: Michelle Russo, of Discovery Communications, +1-240-662-2901,
Michelle_Russo@discovery.com/
/Photo: http://www.newscom.com/cgi-bin/prnh/20080918/NETH035LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com /
/Web site: http://www.discovery.com
http://www.discoverycommunications.com
http://HowStuffWorks.com /
(DISAD DISBD DISCK DISCA DISCB)
CO: Discovery Communications; Discovery Holding Company; Advance/Newhouse
Communications
ST: New York
IN: ENT TVN
SU: RCN PER
CN-CB
-- NETH035 --
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