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Discovery Communications said today that it planned to buy out all of its stock held by Cox Communications in a deal that included transferr…

Discovery Communications said today that it planned to buy out all of its stock held by Cox Communications in a deal that included transferring the Travel Channel (and Travelchannel.com and audio tour guides firm Antenna Audio) and $1.275 billion in cash to Cox for its 25 percent stake in the company. The transaction is expected to be completed in May. Release
B&C: The deal leaves Discovery with just two owners – John Malone’s Discovery Holding Corp., which owns two-thirds, and Advance/Newhouse Communications, which owns one-third. The transitioning out of Travel comes shortly after the arrival at Discovery of its new CEO David Zaslav, from NBC Universal, who has actively begun reshaping the underperforming Discovery.

  1. You mean to say, Malone owns 2/3 and Advance owns 1/3, according to B&C.

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  2. cox historically has never been in the cable programming business… so this is kind of new for them.

    wonder whether this will accelerate or delay digital initiatives at travel channel (!!!!!)

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