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Discovery Domestic Nets Post Flat Sales

Feb 15, 2008  •  Post A Comment

Discovery Communications’ domestic networks registered flat revenue for the fourth quarter in a year that saw sales rise 4%.
According to an earnings statement from Discovery Holdings, Discovery took a $129 million impairment charge covering the repositioning of some of its channels and management reorganizations. Excluding the charge, and the sale of the Travel Channel, adjusted operating cash flow was up 12% for the quarter and the year.
Advertising revenue at Discovery Networks U.S. increased 11% for the quarter and 13% for the year, excluding the Travel Channel from the comparison. Distribution revenue grew 2% for the quarter and 3% for the year, excluding Travel.
Discovery Holding owns 67% of Discovery Communications. In the second quarter, a transaction in which Advance/Newhouse combines its 33% stake in the company to form a new, publicly-owned holding company is expected to be completed.
Discovery Holdings also owns 100% of Ascent Media Group.
(Editor: Baumann)

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