Key Developments: Discovery Communications Inc (DISCA.O)
76.53USD
19 Jun 2013
$-1.32 (-1.69%)
$77.85
$77.64
$78.30
$76.50
998,777
1,465,155
$81.43
$48.59
Latest Key Developments (Source: Significant Developments)
Discovery Communications Inc Reaffirms FY 2013 Guidance
Discovery Communications Inc announced that for fiscal 2013, it expects revenue between $5.575 billion and $5.700 billion, OIBDA between $2.425 billion and $2.525 billion, and net income of $1.200 billion to $1.300 billion. According to I/B/E/S estimates, analysts were expecting the Company to report EBITDA of $2.441 billion and net income of $1.220 billion for fiscal 2013. Full Article
Discovery Communications Inc Announces Pricing of Senior Notes
Discovery Communications Inc announced that Discovery Communications, LLC (DCL) has priced an offering of $350 million aggregate principal amount of its 3.250% senior notes due 2023 (the 2023 Notes) and $850 million aggregate principal amount of its 4.875% senior notes due 2043 (the 2043 Notes and together with the 2023 Notes, the Notes). The 2023 Notes were priced at 99.838% of their principal amount to yield 3.269% to maturity. The 2043 Notes were priced at 99.888% of their principal amount to yield 4.882% to maturity. The sale of the Notes is expected to close on March 19, 2013. The Notes will be unsecured and will rank equally with all of DCL's other unsecured senior indebtedness. The Notes will be fully and unconditionally guaranteed on an unsecured and unsubordinated basis by the Company. DCL expects the net proceeds from the offering of the Notes to be approximately $1.19 billion after deducting the underwriting discount and estimated expenses related to the offering. DCL intends to use the net proceeds for general corporate purposes, including the acquisition of companies or businesses, repayment and refinancing of debt, working capital, capital expenditures and the repurchase by the Company of its capital stock. J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and RBS Securities Inc. acted as joint book-running managers for the offering. Full Article
Discovery Communications Inc Announces Pricing Of Secondary Offering Of Series C Common Stock
Discovery Communications Inc announced the pricing of an underwritten secondary public offering of 7,681,818 Series C common shares at a price to the public of $64.75 per share. The shares are being sold by FTI Ventures LLC, an existing stockholder of the Company. The Company is not selling any shares and will not receive any proceeds from the offering, and the total number of shares of its outstanding Series C common stock will not change as a result of the offering. In connection with the offering, the selling stockholder has granted to the underwriters an option to purchase up to 768,182 additional shares of Series C common stock. The offering is expected to close on March 12, 2013. BofA Merrill Lynch and J.P. Morgan are serving as joint book-running managers for the offering, Citigroup is serving as a bookrunner and RBS, SunTrust Robinson Humphrey, BNY Mellon Capital Markets, LLC, Piper Jaffray and Wells Fargo Securities are serving as co-managers. Full Article
Discovery Communications Inc Announces Secondary Offering Of Series C Common Stock and Proposed Repurchase Of 4,000,000 Shares of Series C Convertible Preferred Stock
Discovery Communications Inc announced that an underwritten secondary public offering of 7,681,818 shares of its Series C common stock by FTI Ventures LLC, an existing stockholder of the Company. The selling stockholder has granted the underwriters an option for 30 days to purchase up to an additional 768,182 shares of Series C common stock. The Company will not sell any shares or receive any proceeds from the offering, and the total number of shares of its outstanding Series C common stock will not change as a result of the offering. BofA Merrill Lynch and J.P. Morgan are serving as joint book-running managers for the offering, and Citigroup is serving as a bookrunner. In addition, the Company announced that, in connection with the offering, it intends to enter into an agreement to repurchase 4,000,000 shares of its Series C convertible preferred stock directly from Advance Programming Holdings, LLC in a private transaction at a price per share equal to 99% of the public offering price per share of Series C common stock sold in the offering. The Company intends to fund the share repurchase with cash on hand and expects to complete the share repurchase in the second quarter of 2013, subject to the satisfaction or waiver of customary closing conditions and the completion of the offering. Full Article
Discovery Communications Inc Issues FY 2013 Net Income Guidance; Revenue And EBITDA Guidance Above Analysts' Estimates
Discovery Communications Inc announced that for fiscal 2013, it expects revenue between $5.575 billion and $5.700 billion, OIBDA between $2.425 billion and $2.525 billion, and net income of $1.200 billion to $1.300 billion. According to I/B/E/S estimates, analysts were expecting the Company to report revenue of $5.427 billion, EBITDA of $2.263 billion and net income of $1.236 billion for fiscal 2013. Full Article
TF1 - Television Francaise 1 SA and Discovery Communications Inc Finalize Negotiations
TF1 - Television Francaise 1 SA announced that following the information disclosed to the market on December 13, 2012, the Company and Discovery Communications Inc signed on December 21, 2012 a strategic partnership agreement. In the framework of the agreement Discovery acquired a 20% minority interest in the Eurosport group for a cash consideration of approximately EUR 170 million. Moreover, Discovery also acquired a 20% interest in pay TV channels (TV Breizn, Histoire, Ushuaia TV and Styli) for the price of EUR 14 million. Full Article
Discovery Communications Inc To Acquire SBS Nordic Operations Of ProSiebenSat.1 Group
Discovery Communications Inc announced a definitive agreement with ProSiebenSat.1 Group to purchase the company's SBS Nordic operations for a total enterprise value of approximately $1.7 billion (EUR1.325 billion). The acquisition of SBS Nordic includes 12 television networks in Norway, Sweden, Denmark and Finland, among other assets, and further solidifies Discovery's long-term growth in the strong Nordic TV markets. The transaction is expected to close in early 2013. Citigroup acted as financial advisor to Discovery Communications on this transaction. DLA Piper served as legal advisors. Full Article
TF1 - Television Francaise 1 SA and Discovery Communications Inc Continue Exclusive Negotiations
TF1 - Television Francaise 1 SA announced that they are continuing the exclusive negotiations with Discovery Communications Inc. These negotiations are aimed at forging a strategic alliance in three key areas: develop the future activities of Eurosport, develop pay TV content in France, and develop production activities in France via TF1 Production. The alliance would include the acquisition by Discovery Communications Inc of a 20% minority interest in the Eurosport group for a cash consideration of approximately EUR 170 million. Discovery would also have the possibility (via an option granted by TF1) of raising its interest to 51% in two years' time. If Discovery exercised its option, TF1 would have the ability to exercise a put option over the remaining 49%, which potentially would increase Discovery's ownership to 100%. To develop pay TV content in France, Discovery would become a shareholder in the TV Breizh, Histoire, Ushuaia TV and Stylia channels, with a 20% interest in each with the ability to increase to 49% in two years. The acquisition of the 20% interest would involve cash consideration of approximately EUR 14 million. An agreement is expected to be signed in the coming weeks. Full Article
TF1 - Television Francaise 1 SA Announces Strategic Alliance with Discovery Communications Inc
TF1 - Television Francaise 1 SA announced that it has entered into exclusive negotiations with Discovery Communications Inc to forge a strategic alliance intended to create value for both companies across business activities in three key areas: Eurosport, Pay TV offerings in France, and content production. This alliance would include investments by Discovery in some of these businesses. Full Article
Discovery Communications Inc Issues FY 2012 Guidance; Revenue, Net Income Below Analysts' Estimates
Discovery Communications Inc announced that for fiscal 2012, it expects total revenue between $4.475 billion and $4.525 billion, Adjusted OIBDA between $2.125 billion and $2.150 billion, and net income of $975 million to $1.025 billion. This outlook incorporates the sale of the Creative Sound Services business in the third quarter of 2012, current foreign exchange rates for revenues and expenses and the current share price for mark-to-market equity-based compensation calculations. According to I/B/E/S estimates, analysts were expecting the Company to report revenue of $4.562 billion, EBITDA of $2.096 and net income of $1.056 billion for fiscal 2012. Full Article
UPDATE 1-Discovery posts higher Q1 results, sees revs above view
May 7 - Discovery Communications Inc posted higher revenue and profit in the first quarter as its cable television networks grabbed better U.S. and international ratings, and forecast annual revenue above estimates.
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