Discovery Snags HowStuffWorks
The Silver Spring cable giant Discovery Communications said Monday it is buying the popular Web knowledge site HowStuffWorks.com. Terms of the deal, which is slated to close later this year, were not disclosed.
The 160-person How Stuff Works team will continue to be based in Atlanta.
The company said it plans a How Stuff Works cable show in the summer of 2008.
"The program will explore an expansive universe of topics such as how mummification works; how telescopes work; how the Bermuda Triangle works; and how solar panels work," Discovery said in a release.
"As part of the HowStuffWorks transaction, Discovery Communications will acquire 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. Through HowStuffWorks, Discovery Communications also will hold 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. HowStuffWorks current shareholders will maintain a significant equity position in HSWI. Discovery Communications intends to enter into a licensing agreement providing certain content rights to HSW International in Brazil and China."
October 15, 2007; 8:02 AM ET
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