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Discovery Buys Two Companies, Forms Media Unit

Nov 2, 2006  •  Post A Comment

Discovery Communications has acquired Petfinder.com and PetsIncredible and combined them with Animal Planet to form a new unit called Animal Planet Media Enterprises.

Ad-supported Petfinder.com facilitates pet adoption via the Internet. PetsIncredible produces and distributes pet training videos and runs the Web service PetVideo.com.

An industry source said Discovery paid about $35 million for the two companies.

Maureen Smith, executive VP and general manager of Animal Planet, will be in charge of Animal Planet Media Enterprises, which will also incorporate Animal Planet’s consumer products business, Discovery said in a statement Thursday.

“This acquisition and reorganization solidifies our place as the leading information provider for all things animal, with a primary focus on media and products for people and their pets,” Ms. Smith said.