Discovery splits UKTV with the BBC, plans paid online video service [Reuters]
Discovery, Inc. - Series A (DISCA)
Last discovery, inc. - series a earnings: 2/27 07:00 am
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Source: Reuters
Discovery splits UKTV with the BBC, plans paid online video service April 1 (Reuters) - Discovery Inc and the BBC have agreed to split up broadcaster UK and strike a new 10-year agreement that will lead to the creation of a new global subscription video-on-demand service, the two companies said on Monday. The new service, owned by Discovery, will pool the nature, science and wildlife libraries of the companies, and is aimed at viewers used to binge-watching shows on services like Netflix Inc. Resolution of the fate of UK is expected to remove an obstacle to the BBC exploring partnerships with other UK media to compete against Netflix, according to reports. BBC Studios, the commercial arm of the public broadcaster, will pay Discovery 173 million pounds ($225.40 million), which include the assumption of 70 million pounds of debt, to take over seven entertainment themed channels: Alibi, Dave, Drama, Eden, Gold, Yesterday and W. Discovery will assume ownership of UK’s lifestyle channels G
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