Not a surprise, but interesting nonetheless. The acquisition beefs up Discovery‘s online presence; this is the biggest digital deal the non-fiction video power has made since 2007, when it paid about $250M for HowStuffWorks.com. The companies don’t say how much Discovery paid for Revision3, although I hear it’s around $30M. Here’s the announcement:
(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.” (more…)