Discovery invests $100 million in digital media venture
Discovery Communications (DISCA.O), which owns networks like the Discovery Channel and Animal Planet, on Thursday became the latest TV company to invest in digital content in an effort to reach mobile viewers.
Discovery invested $100 million in a new holding company, Group Nine Media, that combines millennial-focused online publishers Thrillist, a food, drink and travel brand; video news creator NowThis and animal video site The Dodo with its own digital assets, the company said in a statement.
Through the deal, Discovery will have the option in two years time to acquire a controlling stake... read more
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