Discovery denies buyout rumors
Discovery (DISCA) was quick to deny a CNBC report last month that said the company was interested in selling itself to the highest bidder. The report said that Discovery was interested in selling to CBS (CBS) as a standalone company or to CBS and Viacom (VIA) as a combined entity.
Last year, the family of Sumner Redstone, which controls both CBS and Viacom, tried to merge the companies, but it didn’t work because of disagreements over the management of the combined company. The CNBC report also said that Discovery had considered shopping itself to Comcast (CMCSA), which last year lost to the Walt Disney Company (DIS) in the race to buy the majority of 21st Century Fox’s (FOX) entertainment assets.
Discovery confident in its growth strategy
What does Discovery want to do if it’s not for sale? Discovery’s chief of corporate operations, David Leavy, says the company is confident in its growth strategy and wants to focus on that in every market around the world, according to a report from Hollywood Reporter.
On their parts, CBS and Viacom have chosen not to comment on speculations about their acquiring Discovery.
Revenue jumped 57% at Discovery
Discovery is the name behind media brands such as the Discovery Channel, Animal Planet, and Investigation Discovery.
Discovery is scheduled to report its results for the fourth quarter on February 26. In the third quarter, the company reported $2.6 billion in revenue, representing an increase of 57% year-over-year.