Discovery Holding Company


Discovery Holding Company
Discovery Holding Company
Former type Holding Company
Industry Broadcasting & Cable TV
Fate Merged operations with Discovery Communications, LLC and Advance/Newhouse Communications
Successor Discovery Communications, Inc.
Founded Spin-off from Liberty Media Corporation(2005)
Defunct September 18, 2008
Headquarters Principal executive offices located at Meridian, Colorado
Key people John C. Malone, CEO & Chairman; Robert R. Bennett, President and Director
Products Holding Company focused on media
Revenue increase $6.11 Billion (USD) (2007)[1]
Employees 3,800, essentially all with subsidiaries
Website discoveryholding.com

Discovery Holding Company was a U.S. company headquartered in Meridian, Colorado. The postal designation of nearby Englewood was commonly listed as the company's location in corporate filings and news accounts.

The company used to hold a 66-2/3% ownership stake in Discovery Communications, LLC, and operated Ascent Media and AccentHealth, LLC. On September 17, 2008, Discovery Holdings divested its interest in Ascent Media, and reorganized its remaining businesses around a new publicly traded holding company, Discovery Communications, Inc.

Contents

Corporate governance

Members of the board of directors of Discovery Holding included: John C. Malone and Robert R. Bennett. Former CEO John C. Malone is also the chairman of Liberty Media Corporation from which Discovery Holding Company was spun off in 2005.

Financials

Source: SEC filings

  • Cash and cash equivalents at March 31, 2007: $150M USD [2]
  • Total shareholders’ equity at March 31, 2007: $4,570M USD [3]
  • Revenue for 2006: $688M USD [4]
  • Net earnings for 2006: -$28M USD [5]

Holdings

Discovery Holding owned the following subsidiary companies until the corporate restructuring completed on September 17, 2008.

Spin-off and restructuring

On December 13, 2007, Discovery Holdings announced a restructuring plan. The company planned to spin off its interest in Ascent Media, and combine Discovery Communications with Advance/Newhouse Communications into a new holding company [7]. The reorganization was completed on September 17, 2008.

External links

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