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Discovery, Inc. has announced a new long-term partnership with Vodafone, providing access to Discovery's content portfolio for Vodafone customers in 12 European markets. This agreement will enable existing subscribers to enjoy discovery+, a streaming service featuring a wide range of genres, including sports, documentaries, and lifestyle content. The partnership taps into Vodafone’s approximately 100 million subscribers, aiming to enhance customer experience with comprehensive content offerings. Launching in 2021 and 2022, this collaboration positions both companies to capitalize on the growing streaming market in Europe.
Discovery, Inc. (Nasdaq: DISCA, DISCB, DISCK) has appointed Robert L. Johnson, founder of Black Entertainment Television, to its Board of Directors, effective January 1, 2021. Johnson's extensive experience in media and entrepreneurship is expected to enhance the board's expertise during a transformative year for the company. Concurrently, S. Decker Anstrom will step down from the Board on December 31, 2020, with Susan M. Swain transitioning to his role as a preferred stock director. Johnson’s addition reflects Discovery's strategy to leverage diverse perspectives in a competitive market.
Discovery (Nasdaq: DISCA, DISCB, DISCK) has announced the rescheduling of CEO David Zaslav's presentation at the 2020 UBS Global TMT Virtual Conference due to technical difficulties. The updated presentation will occur on December 7, 2020, at 1:55 p.m. ET. Investors can access the live webcast via the company's Investor Relations website. Discovery continues to lead in real-life entertainment, offering over 8,000 hours of original content annually, available in 220 countries and territories across various platforms.
Discovery (Nasdaq: DISCA, DISCB, DISCK) will have President & CEO David Zaslav presenting at the 2020 UBS Global TMT Virtual Conference on December 7, 2020, at 8:25 a.m. ET. A live webcast will be accessible through the 'Investor Relations' section of their website, with an on-demand replay available afterward. Discovery is a leading global entertainment provider, delivering over 8,000 hours of original programming annually across various platforms, reaching audiences in 220 countries.
Discovery, Inc. (Nasdaq: DISCA, DISCB, DISCK) will hold a virtual presentation on December 2, 2020, at 12:00 p.m. ET, to unveil its plans for a global streaming service. Following this, an investor briefing is scheduled for 1:30 p.m. ET. Both sessions will be accessible via the company's corporate website and Investor Relations page, where recordings will also be available. Discovery aims to enhance its reach in the streaming market while continuing to deliver over 8,000 hours of unique programming annually across various platforms worldwide.
On November 12, 2020, Discovery announced that Chief Financial Officer Gunnar Wiedenfels will present at the 2020 Morgan Stanley European TMT Conference on November 18, 2020, at 4:25 p.m. GMT (11:25 a.m. ET). A live webcast of the presentation will be available on Discovery's Investor Relations website, with an on-demand replay accessible shortly after the event. Discovery (Nasdaq: DISCA, DISCB, DISCK) is a global leader in real-life entertainment, delivering over 8,000 hours of original programming annually across 220 countries.
Discovery, Inc. reported a 4% decline in total revenues for Q3 2020, totaling $2.561 billion. U.S. distribution revenues saw a slight increase of 2%, while advertising revenues fell by 8%. Net income reached $300 million, resulting in $0.44 EPS. The company generated $787 million in free cash flow and repurchased 11.2 million shares for $228 million.
Despite these declines, Discovery's networks held strong viewership shares, with TLC leading among women demographics in primetime.
Discovery, Inc. (Nasdaq: DISCA, DISCB, DISCK) announced the expiration results of its cash tender offers for five series of senior notes issued by its subsidiary, Discovery Communications, LLC. The cash offers expired on September 16, 2020, with a settlement date expected on September 21, 2020. Notably, the conditions for the 2047 Notes were not satisfied, leading to the termination of both their Cash and Exchange Offers. The company accepted $14.2 million of the 2037 Notes and $1.3 million of the 2040 Notes, among others. Eligible holders will receive accrued interest alongside their tender consideration.
Discovery, Inc. announced the expiration results of its Exchange Offers for five series of senior notes. The offers aimed to exchange outstanding notes for new senior notes due 2055. The Exchange Offers expired on September 16, 2020, with the settlement date expected on September 21, 2020. Notably, the conditions for exchanging 2047 Notes were not met, leading to termination. The Offerors anticipate accepting approximately $1.73 billion in New Notes in exchange for validly tendered Old Notes. The Offers were only available to certain qualified investors, and the New Notes have not been registered under U.S. securities laws.
Discovery, Inc. has announced the pricing terms for a cash tender transaction to purchase five series of outstanding senior notes from its subsidiary, Discovery Communications, LLC. The total cash available for these Cash Offers is capped at $80 million, with offers expiring today, September 16, 2020. Each series of notes has specific tender consideration values ranging from $1,174.62 to $1,372.87 per $1,000 principal amount. The Cash Offer Settlement Date is expected on September 21, 2020.
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