Discovery Deal Paves Way for Firm to Go Public

What You Should Have Read, June 5, 2008

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Discovery Deal Paves Way for Firm to Go Public

The Washington Post reports that Discovery Communications can now proceed with its plan to become a publicly traded company, following an agreement yesterday by its parent company and a major stakeholder. Discovery's parent, Discovery Holding, is controlled by billionaire John C. Malone, chairman of Liberty Media. The other major shareholder is Advance/Newhouse Communications, owner of the New Yorker and other magazines. The announcement came the same day that Discovery launched its Planet Green multimedia effort, the first new channel launched under chief executive David Zaslav, who took over Discovery in January 2007.
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