Early Briefing: A New Program for Discovery

*Discovery Communications Inc. said it will go public after 25 years as a private company with complex ownership. Details on its future board, ticker symbol and IPO price have yet to be determined. See story

*The finance chief of WCI Communities, a struggling Florida home builder with plans to build a 22-story condo tower in Columbia, plans to resign at the end of the year. See story.

*Herndon-based K12, which provides online courses for virtual schools and trades under the ticker symbol LRN, went public yesterday. Its stock jumped 36 percent. See story.

*A partnership called One Vision, led by William C. Smith & Co. and the Jair Lynch Cos. has been selected to tear down the Sursum Corda cooperative and the Temple Courts housing complex and redevelop the area in a $700 million mixed-use project, Mayor Adrian Fenty said. See story

*Medical Mutual Liability Insurance Society of Maryland, the state's largest insurer of doctors, will give back to the state $84 million it has collected through a subsidy program, Gov. Martin O'Malley and regulators said. See story

*InPhonic, a wireless-communications services company based in the District, won court approval of a sale of its assets to Versa Capital Management affiliate Adeptio INPC Funding over the objections of its creditors. Adeptio will exchange $50 million of debt for the title to the assets and will assume certain liabilities.

*The West Virginia Health Care Authority is reconsidering its approval of the Carlyle Group's planned $6.3 billion purchase of national nursing-home chain Manor Care. The authority is to take up the matter today.

*T. Rowe Price said it raised its quarterly dividend 41 percent. A dividend of 24 cents a share will be payable Jan. 11 to stockholders as of Dec. 28, Baltimore-based T. Rowe Price said. See press release.

*News Corp.'s social networking unit MySpace said Sprint Nextel of Reston will provide links to the new MySpace Mobile Web site and other sites owned by Fox Interactive Media. Under the agreement, Sprint customers with enabled phones will be able to access the new MySpace Mobile Web site directly from the Sprint portal. MySpace Mobile, scheduled to launch in early 2008, is in beta testing. See press release.

By Terri Rupar  |  December 14, 2007; 5:00 AM ET  | Category:  Morning Brief
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