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Discovery Communications to Acquire Top Digital Video Provider Revision3

May 3rd, 2012 at 12:17 by MHdeadhead in Announcements, Press Releases

DISCOVERY COMMUNICATIONS TO ACQUIRE TOP DIGITAL VIDEO PROVIDER REVISION3

Purchase Will Bolster Discovery’s Leadership in Creating & Delivering Content Across All Screens

(Silver Spring, Md.) – Discovery Communications announced today that it has entered into an agreement to acquire San Francisco-based digital video provider Revision3. Leveraging Revision3’s vast experience in creating engaging online video content in a cost-effective manner, the transaction helps fuel Discovery’s strategy of being the number one nonfiction media company on all screens.

“Discovery’s mission to ignite viewers’ curiosity and its history of pioneering new platforms – from cable to HD to 3D – make it the logical leader in this explosive new wave of digital video growth,” said JB Perrette, Chief Digital Officer, Discovery Communications, who made today’s announcement. “With Revision3’s industry-leading management team and roster of great talent, we look forward to cultivating more original content and fresh personalities that resonate with passionate communities online and across all platforms, while enhancing our innovative marketing solutions for advertising partners.”

The leading independent Internet digital video production company, with more than 23 million monthly unique viewers across 27 digital channels, Revision3 has created a technology and distribution platform that powers the scalable production, monetization and distribution of video content for passionate online communities. With programs hosted by authentic online celebrities, including top bloggers, Twitter stars and YouTube sensations, the company’s content aligns with many of Discovery’s top linear program genres, such as tech, cooking and popular science. Revision3 boasts one of the 10 largest networks on YouTube and distribution with more than 40 other partners including iTunes, Google, AOL, Yahoo!, TiVo, Roku, Boxee, CNET and Zune.

“Revision3 has always focused on creating compelling programs featuring authentic hosts that sit at the center of engaged and targeted communities,” said Jim Louderback, CEO of Revision3. “We’re huge fans of Discovery’s networks, and couldn’t imagine a more appropriate company to team up with to develop the future of original web-based video.”

Revision3 was founded in 2005 by Kevin Rose (Digg, TechTV), Jay Adelson (Digg, Equinix) and David Prager (TechTV). Louderback, former editor-in-chief of PC Magazine and a veteran of TechTV, joined Revision3 as CEO in 2007. Louderback and team will continue their leadership of Revision3 under the new ownership structure.

For this transaction, Discovery Communications was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Revison3 was advised by RBC Capital Markets and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP.

The acquisition is subject to customary closing conditions, and the parties expect the closing to occur on or before June 1.

About Discovery Communications

Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) is the world’s #1 nonfiction media company reaching more than 1.5 billion cumulative subscribers in over 200 countries and territories. Discovery is dedicated to satisfying curiosity through more than 140 worldwide television networks, led by Discovery Channel, TLC, Animal Planet, Science and Investigation Discovery, as well as US joint venture networks OWN: Oprah Winfrey Network, The Hub and 3net, the first 24-hour 3D network. Discovery also is a leading provider of educational products and services to schools and owns and operates a diversified portfolio of digital media services, including HowStuffWorks.com. For more information, please visit DiscoveryCommunications.com.


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This entry was posted on Thursday, May 3rd, 2012 at 12:17 pm and is filed under Announcements, Press Releases. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

  • Oscar Castillo

    Congrats on the acquisition. It’s the silicon valley dream you’re all living through right now. I hope it all goes as planned and wish you all the best. 

  • ~*Aria*~

    In 2005 I met a friend on the forum, and we became good friends, then more.  Fast forward to 2012 and we’re the married parents of a toddler girl.  

    And in addition to that, we’ve met several friends we couldn’t imaging our lives without on that forum.  One of them even traveled to the US to be the master of ceremonies at our wedding!

    Thank you, Rev3, for years of laughs and love and good friends, and I hope this move with Discovery results in great things!

    Love,
    AriaStar (and Popletree2 is my husband, and ericjosepi was out master of ceremonies, and of course still a great friend, and rabidbadger is to thank for breaking the ice!)

  • http://kennethlawson.blogspot.com/ Kenneth Lawson

    This is all well and good. However, the flip side is dose R3 still own their own content?
    Past and present and future content?

  • Anonymous

    I think so. Jim says discovery wants them to keep doing what they’re doing.

  • http://kennethlawson.blogspot.com/ Kenneth Lawson

    If it isn’t in writing is isn’t so, even then its questionable. Remember Leo Leporte, of TechTv fame, and his 2 hugely popular shows, Call for Help, and Screen Savers?  When Comcast bought out Techtv, Leo didn’t own the shows suddenly he had no job, and he didn’t own the work He’d spent the last several years doing.
     Now he owns everything on his own web network, TWIT and build it into a huge following and done it his way, like Jim  Louderback,, did, with R3. The question to me, knowing what happened to Techtv, why would he(Jim) consider going down that road again?

  • Adam24

    it is in writing.  Look on the tubefilter interview with Jim. http://www.tubefilter.com  Search revision3

  • http://www.abercrombieandfitchonsale.co.uk/ Becca

    I came across this topic on a different site and didn’t really understand it, but your post helped me understand it better. Appreciate it!

  • Anonymous

    Thats really great news guys well done, it shows your pivot from a while back really worked. congrats

  • Loop700

    The end of rev3.

  • gluegle

    Discovery…meh.

  • M_f90250

    This could go very badly for Rev3.

    Discovery is an old school media provider that does Not engage with its audience. Executives come up with a concept And … Beat … It …. To ….. Death. Currently the strategy across channels is Roughnecks, Rednecks and Scary Animals. Even Science (channel) has been dumbed down – see an Idiot Abroad .

    OTOH Rev3 is very sensitive to what its ‘constituents’ want.

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     YouTube and distribution with more than 40 other partners including iTunes, Google, AOL, Yahoo!, TiVo, Roku, Boxee, CNET and Zune.

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