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Discovery Holding Company

From Wikipedia, the free encyclopedia

Discovery Holding Company
Holding Company
IndustryBroadcasting & Cable TV
FateMerged operations with Discovery Communications, LLC and Advance/Newhouse Communications
PredecessorLiberty Media
SuccessorDiscovery Communications, Inc.
Founded2005; 15 years ago (2005)
DefunctSeptember 18, 2008; 12 years ago (2008-09-18)
HeadquartersPrincipal executive offices located at Meridian, Colorado
Key people
John C. Malone, CEO & Chairman; Robert R. Bennett, President and Director
ProductsHolding Company focused on media
RevenueDecrease US$6,497 million[1]
Number of employees
3,800, essentially all with subsidiaries
Websitediscoveryholding.com

Discovery Holding Company was an American 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.

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 [1]
  • Total shareholders’ equity at March 31, 2007: $4,570M USD [2]
  • Revenue for 2006: $688M USD [3]
  • Net earnings for 2006: -$28M USD [4]

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 [6]. The reorganization was completed on September 17, 2008.

References

  1. ^ "Discovery Communications Reports Full Year and Fourth Quarter 2016 Results". Discovery Communications. February 14, 2017. Retrieved August 7, 2017.

External links


This page was last edited on 24 October 2019, at 16:20
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