MUMBAI: Discovery has reported a seven per cent jump in its revenue to $1.14 billion for the fiscal second quarter ended 30 June 2012.

Adjusted OIBDA increased by six per cent to $543 million, while net income rose 15 per cent to $293 million.

Discovery president, CEO David Zaslav said, ?Discovery?s consistent focus on investing in our global platform, building new brands and developing additional growth opportunities resulted in continued strong operating results during the second quarter. The steps we have taken to broaden our international content offerings, along with the continued evolution of pay-tv globally, are driving international expansion, while domestically we are generating significant returns from the sustained programming initiatives and audience growth across our younger networks."

The rise in revenue was led by six per cent growth at US Networks and 10 per cent growth at International Networks.

Adjusted Operating Income Before Depreciation and Amortization (1) (?OIBDA?) grew six per cent to $543 million, driven by an eight per cent increase at US Networks and a two per cent increase at International Networks. Excluding the impact of foreign currency fluctuations, total company revenues increased 10 per cent and Adjusted OIBDA increased by 11 per cent.

Second quarter net income available to Discovery stockholders of $293 million increased by $39 million compared to $254 million for the second quarter a year ago, primarily due to strong operating performance in the current year and lower taxes primarily due to a re-organisation of certain operations partially offset by the impact of foreign currency fluctuations.

Free cash flow was $138 million for the second quarter, a decrease of $60 million from the second quarter of 2011, as increased operating performance was more than offset by higher content investment and increased tax payments versus a year ago. For the last 12 months, free cash flow increased by five per cent over the previous twelve month period. Free cash flow is defined as cash provided by operating activities less acquisitions of property and equipment.

MUMBAI: US infotainment and lifestyle broadcaster Discovery has signed a content deal with the Colombian government, making it the first accord ever between the nation and a media company.

Signed in Bogota, the co-production partnership with Colombia?s Ministry of Information Technology and Communications (TIC) is to produce content for and about Colombia as well as to promote and spur television production training programmes in the country.

The projects aim to contribute to the development and promotion of Colombian culture, reflecting the country?s current reality and history.

Discovery president, CEO David Zaslav said, "Colombia is a very important market for Discovery Communications, and we are building on the great programming success we have had to date. Discovery is committed to investing more in the local economy, collaborating with the creative community, and working with the Colombian government to produce high-quality programming about this exciting and vibrant
country."

MUMBAI: US non fiction media company Discovery continues with its restructuring exercisehas announced the appointment of Liz Claiborne and former General Electric/NBC Universal executive Andrew Warren to the position of senior executive VP, CFO.

Warren will join Discovery on 26 March. He succeeds Brad Singer who previously announced that he is leaving Discovery at the end of March.

As part of a larger restructuring following the elimination of the COO position as of 31 December 2011, the company also today announced a realignment of corporate functions under several current senior executives, effective immediately.
 
David Leavy has been promoted to the position of chief communications officer and senior executive VP, corporate marketing and affairs, reporting to president, CEO David Zaslav.

In his new role, Leavy adds centralised marketing functions, including Corporate Research and Consumer Insights, Media Planning and Partnerships, Corporate Marketing, and Discovery Creative, the company‘s in-house creative services group, to his existing responsibilities for Global Communications and Corporate Affairs. T

The new organisation will focus on further amplifying Discovery‘s messaging, promotion and research initiatives around the world.

Discovery chief development officer, general counsel Bruce Campbell said business affairs and global production management to his portfolio, with executive VP, global production management and business affairs Lee Bartlett, will be reporting to him.

Campbell retains his existing responsibilities leading global business development, strategic planning and mergers and acquisitions, and overseeing all legal affairs and litigation for the company.

In his expanded role, Campbell will work with Bartlett to continue attracting top producers and on-air talent for Discovery‘s networks and increasing the company‘s presence in the creative television community.

Discovery chief digital officer JB Perrette said he will oversee Discovery‘s Enterprise Operational Services department as leader of the company‘s digital strategy, including Discovery‘s US websites (ex: Discovery.com, TLC.com, and HowStuffWorks.com, etc.), Interactive Technology and Digital Operations and Programming, as well as the company‘s digital distribution efforts with non-traditional affiliates (ex: Apple, Netflix, Amazon, etc.).

Perrette also is responsible for Discovery Commerce, including Licensing, Home Entertainment and Footage and Music Services.

The new structure aligns Discovery‘s digital assets, social media platforms and information technology services in a single organisation to focus on opportunities presented by emerging technologies.

Discovery Networks International (DNI) executive VP, chief content officer Luis Silberwasser said he will have responsibilities over US network Velocity, which also include leading DNI‘s production and development unit and overseeing the international rollout of TLC.

Velocity senior VP Bob Scanlon will now report to Silberwasser. Together, they will leverage the international appeal of the men‘s lifestyle genre to develop content to drive Velocity and other men‘s lifestyle brands around the world.

Zaslav said, "Having worked extensively with Andy at NBC Universal, know firsthand what an effective and strategic leader he is, how knowledgeable and passionate he is about the media business, and what a great addition he will be to our already strong senior management team . With Andy on board, and with the strategic realignments we announced today, I am confident that Discovery is very well positioned to continue delivering on our strategy for sustainable long-term growth in the U.S. and around the world with a lean and efficient structure that best deploys our outstanding talent and resources."

As CFO, Warren will be responsible for leading the global financial functions and strategies of the company and will direct all accounting, treasury, budgeting and tax activities.

In addition to serving on Discovery‘s executive committee and contributing to the overall strategic direction of the company, Warren also will oversee Discovery‘s Media Technology, Production & Operations division, and will represent the company in its three US joint ventures, OWN: Oprah Winfrey Network, The Hub and 3net.

CSS Studios, Discovery‘s creative post-production sound services company, also will report to Warren.

MUMBAI: US non fiction media company Discovery Communications has announced that its COO Peter Liguori has decided to depart the company at the end of the year.

Liguori was responsible for launching numerous creative and brand marketing initiatives around the world, including overseeing the successful launches of Discovery‘s joint ventures in The Hub, Own and 3net. 

Discovery president, CEO David Zaslav said, "Pete‘s leadership, enthusiasm and creative vision have brought a fresh and important perspective to Discovery. Around the world, our programming, marketing and promotional efforts have greatly benefited from his energy, experience and creative eye. I am particularly grateful to Pete for tackling some pretty challenging special assignments, including the launches of our joint venture networks - The Hub, Own and 3net. Pete is just a terrific guy and talented executive, and I want to thank him for the many significant contributions he has made at all levels of Discovery Communications."

MUMBAI: US non fiction media company Discovery has reported an 18 per cent jump in the revenues for its third quarter, ended 30 September, 2011.

The company?s revenues surged to $1.09 billion while adjusted Operating income before depreciation and amortization (OIBDA) increased by 15 per cent to $479 million.

Net income from continuing operations increased to $238 million. Discovery also repurchased 9.8 million shares at an average price of $36.30 per share for an aggregate purchase price of $355 million.

Discovery president and CEO David Zaslav said, "The strength of Discovery?s brands and the value of our content to consumers, distributors and advertisers alike were further demonstrated in our third quarter financial results. The appeal of our programming allowed us to continue to take advantage of the sustained health of the global ad market and further leverage existing and emerging distribution platforms worldwide.

"The breadth of our global distribution enables us to capitalise on the increasing penetration of traditional distribution models, while the diversity and appeal of our content allows us to strategically leverage evolving delivery methods. We remain focused on generating sustained financial results while thoughtfully investing in our brands and platforms so that we can take advantage of new and existing distribution opportunities around the globe."

Third jump in revenues by $169 million was led by 19 per cent growth at US Networks and 19 per cent growth at international networks. OIBDA growth was driven by a nine per cent increase at US Networks and a 20 per cent increase at international networks. The domestic results benefitted from significant additional licensing revenues under an extended and expanded licensing agreement.

Third quarter net income from continuing operations, available to Discovery stockholders of $238 million, increased by $77 million compared to $161 million in the year ago period. The current quarter results reflect the strong operating performance partially offset by higher taxes, the company clarified.

Free cash flow was $314 million for the third quarter, a decrease of $32 million from the third quarter of 2010, as the increased operating performance was more than offset by higher long-term incentive compensation and tax payments, as well as lower working capital.