SILVER SPRING, Md. - Discovery Communications today announced that it has completed its acquisition of HowStuffWorks (www.howstuffworks.com), the leading online source of high quality, unbiased, and easy-to-understand explanations of how the world actually works.
“We are pleased to complete this acquisition and look forward to working with our new colleagues at HowStuffWorks,” said Bruce Campbell, President, Digital Media and Business Development at Discovery Communications. “HowStuffWorks’ content is highly ranked by the world’s leading search engines and the addition of clips from Discovery’s world-class video library will create an even more robust platform for users to easily find high quality, multimedia content.”
“There is a natural link between Discovery’s video library and the contextually relevant articles provided by HowStuffWorks,” said Jeff Arnold, CEO of HowStuffWorks. “As a result of this acquisition, information-seeking consumers benefit from a richer, multimedia experience, while our advertisers and business partners have new opportunities to reach targeted audiences of engaged consumers.”
As part of the HowStuffWorks transaction, Discovery Communications also acquired a portfolio of other digital properties that complement the Discovery brands, including expert ratings and reviews from ConsumerGuide.com, an extensive database of digitized maps owned by GeoNova Group (formerly MapQuest Publishing), and QuickCompliance, a medical education business that complements Discovery’s existing health businesses. HowStuffWorks and these additional assets are now a subsidiary of Discovery Communications.
Through HowStuffWorks, Discovery Communications also acquired a minority equity position in HSW International (NASDAQ: HSWI), a separate and publicly traded entity that has the local language rights to the HowStuffWorks content and brand in Brazil and China and the option for the same rights in India and Russia. Discovery Communications and HSW International plan to enter into an arrangement giving HSW International digital publishing rights in China and Brazil to Discovery content that has been published on or integrated within the HowStuffWorks website.
HowStuffWorks (www.howstuffworks.com) is the leading source of credible, unbiased, and easy-to-understand explanations of how the world actually works. It has won multiple Webby awards, was among Time magazine’s “25 Websites We Can’t Live Without” in 2006 and 2007, and was among PC Magazine’s “Top 100 Web Sites” four times including in 2007. As a subsidiary of Discovery Communications, HowStuffWorks is part of the world’s number-one nonfiction media company dedicated to providing knowledge and satisfying curiosity across multiple platforms.
About Discovery Communications
Discovery Communications is the number-one nonfiction media company reaching more than 1.5 billion cumulative subscribers in over 170 countries. Discovery's 100-plus worldwide networks are led by Discovery Channel, TLC, Animal Planet, The Science Channel, Discovery Health and HD Theater, with digital media properties including HowStuffWorks.com. Discovery Communications is owned by Discovery Holding Company (NASDAQ: DISCA, DISCB), Advance/Newhouse Communications and John S. Hendricks, Discovery's founder and chairman. For more information, please visit www.discoverycommunications.com.