Key Stats
Founded in 1982 as Cable Educational Network, renamed Discovery Communications in 1991.
Acquired Scripps Networks Interactive for $14.6 billion in March 2018.
Merged with WarnerMedia in April 2022 to form Warner Bros. Discovery.
Generated $12.19 billion revenue in 2021, up from $10.67 billion in 2020.
Operated 220+ global channels including Discovery Channel, TLC, Animal Planet, and HGTV.
Discovery Communications transformed from a small educational television network into one of the world’s largest media conglomerates. The company pioneered nonfiction television content and built an empire spanning multiple distribution platforms across more than 220 countries.
John Hendricks founded the Cable Educational Network in Maryland in 1982 with a vision to bring informational programming to television. The venture nearly failed within its first year but secured crucial investment from cable operators. This partnership laid the foundation for decades of growth in factual entertainment programming.
The company expanded beyond its flagship Discovery Channel through strategic acquisitions and network launches. Discovery built a portfolio of specialized channels targeting specific audiences and interests. The 2018 acquisition of Scripps Networks Interactive added major lifestyle brands to create a content powerhouse serving passionate audiences globally.
Discovery Communications History
Discovery Communications Co-founders
John S. Hendricks
University of Alabama history graduate who founded Cable Educational Network in 1982. Hendricks developed the vision for Discovery Channel and secured initial funding despite early financial struggles.
Discovery Communications Revenue
Discovery Communications experienced consistent revenue growth through strategic acquisitions and international expansion. The company generated $12.19 billion in 2021, reflecting strong performance across advertising and distribution revenue streams.
Discovery Communications Acquisitions
Discovery Communications pursued an aggressive acquisition strategy to expand its content portfolio and geographic reach. The company acquired The Learning Channel in 1991, marking its first major expansion beyond the flagship Discovery Channel. This acquisition established Discovery as a multi-channel operator focused on educational and informational content.
The company purchased a 70% stake in Travel Channel from Paxson Communications for $20 million in 1997. Discovery also acquired stakes in international broadcasters to build a global footprint. These moves positioned the company to distribute content across multiple markets and platforms.
Discovery acquired TreeHugger for $10 million in August 2007, expanding into digital media and environmental content. The company invested in Group Nine Media in October 2016 for $100 million, acquiring a minority stake in the digital media holding company that included Thrillist, NowThis, and The Dodo.
The acquisition of Eurosport represented a major push into sports broadcasting. Discovery took a 20% minority stake valued at €170 million in December 2012, then increased ownership to 51% in January 2014. The company secured Olympic Games broadcast rights across most of Europe through this investment.
Discovery completed its transformational acquisition of Scripps Networks Interactive for $14.6 billion in March 2018. This deal added Food Network, HGTV, Travel Channel, and other lifestyle networks to Discovery’s portfolio. The combined company controlled nearly 20% of ad-supported cable viewership in the United States. Scripps shareholders received $90 per share in the transaction and owned 20% of Discovery’s stock following completion.
The WarnerMedia merger represented Discovery’s largest deal. AT&T spun off WarnerMedia and combined it with Discovery in April 2022 to form Warner Bros. Discovery. This $43 billion transaction created a content giant with Warner Bros. studios, HBO, CNN, and Discovery’s factual entertainment networks under one roof.
Discovery Communications Marketcap
Discovery Communications market capitalization grew substantially from approximately $20 billion in 2014 to over $47 billion by 2022. The company’s value reflected investor confidence in its content strategy and ability to navigate the evolving media landscape.
Discovery Communications Competitors
Discovery competed with major media conglomerates including Disney, NBCUniversal, ViacomCBS, and Fox Corporation. These companies operated similar cable networks and streaming services targeting overlapping audiences in the increasingly competitive media environment.
| Company | Headquarters | Major Networks |
|---|---|---|
| The Walt Disney Company | Burbank, California | ABC, ESPN, Disney Channel, National Geographic |
| NBCUniversal | New York, New York | NBC, CNBC, MSNBC, USA Network |
| ViacomCBS (now Paramount Global) | New York, New York | CBS, MTV, Nickelodeon, Comedy Central |
| Fox Corporation | New York, New York | FOX, Fox News, Fox Sports, Fox Business |
| AMC Networks | New York, New York | AMC, IFC, SundanceTV, BBC America |
| Netflix | Los Gatos, California | Streaming platform with original content |
| Amazon Prime Video | Seattle, Washington | Streaming service with original programming |
| WarnerMedia (pre-merger) | New York, New York | HBO, CNN, TNT, TBS, Warner Bros. |
FAQs
When was Discovery Communications founded?
Discovery Communications was founded in 1982 as Cable Educational Network by John Hendricks in Maryland. The company launched Discovery Channel on June 17, 1985 and was renamed Discovery Communications in 1991.
Who owns Discovery Communications now?
Discovery Communications merged with WarnerMedia in April 2022 to form Warner Bros. Discovery. The combined company is publicly traded and led by CEO David Zaslav, with operations spanning streaming, studios, and networks.
What happened to Discovery Channel?
Discovery Channel continues to operate as a major cable network under Warner Bros. Discovery. The channel maintains its focus on reality television, documentaries, and educational content while expanding its digital presence through streaming platforms.
How much did Discovery pay for Scripps Networks?
Discovery acquired Scripps Networks Interactive for $14.6 billion in cash and stock. The transaction closed on March 6, 2018 and added networks including HGTV, Food Network, and Travel Channel to Discovery’s portfolio.
What networks did Discovery Communications own?
Discovery owned networks including Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, HGTV, Food Network, Travel Channel, and OWN. The company operated channels across more than 220 countries before merging with WarnerMedia.
Related companies: Time Warner | Hearst Corporation | Gannett
