Discovery Holding Company
| Former type | Holding Company |
|---|---|
| Industry | Broadcasting & Cable TV |
| Fate | Merged operations with Discovery Communications, LLC and Advance/Newhouse Communications |
| Successor(s) | Discovery Communications, Inc. |
| Founded | Spin-off from Liberty Media(2005) |
| Defunct | September 18, 2008 |
| Headquarters | Principal executive offices located at Meridian, Colorado |
| Key people | John C. Malone, CEO & Chairman; Robert R. Bennett, President and Director |
| Products | Holding Company focused on media |
| Revenue |
 $6.11 Billion (USD) (2007) |
| Employees | 3,800, essentially all with subsidiaries |
| Website | discoveryholding.com |
Discovery Holding Company was a U.S. 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
- Total shareholders’ equity at March 31, 2007: $4,570M USD
- Revenue for 2006: $688M USD
- Net earnings for 2006: -$28M USD
Holdings
Discovery Holding owned the following subsidiary companies until the corporate restructuring completed on September 17, 2008.
- Ascent Media
- 66-2/3% of Discovery Communications, LLC.
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 . The reorganization was completed on September 17, 2008.
External links
- - Form 8-K for Discovery Communications, Inc.: Completion of Acquisition or Disposition of Assets, Changes in Reg
- - SEC Information statement on Discovery Holding Company, Inc.
- Yahoo! - Discovery Holding Inc. Company Profile