Discovery Communications, the massive non-fiction media company that reaches more than 1.5 billion cumulative subscribers in over 170 countries, began trading as a public company today. John Hendricks, Discovery Communications’ founder and chairman, and David Zaslav, president and CEO, rang the opening bell at the NASDAQ stock exchange in New York this morning.
‘Today signals a new era for Discovery Communications,’ said Zaslav. ‘As we complete the transformation from our previous ownership structure to a pure-play, publicly traded content company, this new structure will provide increased financial flexibility for our management team to drive innovation and pursue areas of strategic investment.’
In addition to starting its first day as a publicly traded company, Discovery revealed an updated corporate logo and launched a new corporate website. The website features investor and corporate governance information, as well as key information about its over 100 global networks, digital media properties and consumer and educational products.
Discovery Communications networks include three US networks (Discovery Channel, TLC and Animal Planet) and seven networks (Discovery Health, Discovery Kids, Science Channel, Planet Green, Investigation Discovery, Military Channel and FitTV), as well as 17 international entertainment brands.