disca - DISCA STOCK NEWS

Discovery (Nasdaq: DISCA, DISCB, DISCK) announced that its President and CEO, David Zaslav, will present at the 2020 Goldman Sachs Communacopia Conference on September 17, 2020, at 8:00 a.m. ET. A live webcast of the presentation will be available in the Investor Relations section of Discovery's website, with an on-demand replay following the event.

Discovery is a global leader in real-life entertainment, delivering over 8,000 hours of original programming annually across platforms in 220 countries and territories.

Discovery, Inc. (Nasdaq: DISCA, DISCB, DISCK) announced a cash tender offer to purchase five series of senior notes totaling $4.7 billion from its subsidiary Discovery Communications, LLC. The offers will expire on September 16, 2020, with a maximum cash offer condition set at $80 million. Eligible holders must meet specific criteria, and the settlement date is expected to be September 21, 2020. All transactions are subject to conditions outlined in the Offer to Purchase.

Discovery, Inc. has announced the commencement of an exchange transaction involving five series of senior notes totaling $4.7 billion issued by its subsidiary, Discovery Communications, LLC. The exchange offers, expiring on September 16, 2020, allow eligible holders to exchange their existing notes for new senior notes due in 2055. The aggregate total exchange consideration is capped at $2.1 billion, and participation is limited to qualified institutional buyers and certain non-U.S. persons. Cash tender offers for the same notes will also be conducted concurrently.

HGTV has launched the Urban Oasis 2020 in Portland, ME, featuring a new fully-furnished home as a grand prize. The prize package, valued at over $650,000, includes $50,000 from LendingTree. The home, designed by local architect Briburn, encompasses nearly 2,000 sq. ft. with three bedrooms and two and a half bathrooms. Entries for the giveaway are accepted from October 5 to November 25. The special showcasing the home's design will air on October 7 at 7 p.m. ET. Sponsors include LendingTree, Kohler, and SimpliSafe.

On September 2, 2020, Discovery (Nasdaq: DISCA, DISCB, DISCK) announced that CFO Gunnar Wiedenfels will present at the 2020 Bank of America Media, Communications and Entertainment Conference on September 9, 2020, at 9:50 a.m. ET. A live webcast will be accessible via the Investor Relations section of Discovery's website, along with an on-demand replay following the event. Discovery is known for its extensive original programming and global reach, with content available in over 220 countries and 50 languages.

Discovery Golf and Golf Digest have launched Season 2 of the exclusive masterclass series, MY GAME: TIGER WOODS, set to premiere on August 20, 2020. This 10-part series focuses on Tiger Woods' Shotmaking Secrets, providing insights into his golf techniques. Following the success of Season 1, this new installment promises detailed instruction from the 15-time major champion. The series will be available for free on Golf Digest Schools, coinciding with the launch of the new Golf Digest Schools app.

Golf Digest has become the Title Sponsor for the inaugural African American Golf EXPO and Forum, organized by Jim Beatty Golf Ventures. Scheduled for February 20-23, 2021, in Atlanta, GA, the event aims to promote economic inclusion and diversity within the $84 billion golf industry, targeting the $4 billion African American golf market. The EXPO will feature 20 workshops and networking opportunities to enhance access to the sport. Golf Digest's Editor-in-Chief emphasized the importance of diversity and inclusion within the game.

Discovery reported Q2 2020 financial results with total revenues of $2,541 million, down 12% from the previous year. Advertising revenues dropped 14% in the U.S. and 37% internationally, reflecting the pandemic's impact. However, U.S. distribution revenues rose 7%. Net income fell 71% year-over-year to $271 million, with diluted EPS at $0.40. The company generated $879 million in free cash flow, demonstrating resilience. Despite declining revenues, Discovery announced plans to resume share repurchases, indicating a cautious optimism for recovery.