Discovery Channel Buying Revision3
It's been widely rumored and now it's official: Discovery Communications, which owns cable channels The Discovery Channel, TLC, Animal Planet, and more, has announced that it will acquire online video network Revision3.
Neither party is giving a purchase price. When Techcrunch first reported the acquisition talks on Monday, it said the price would be between $30 and $40 million, according to an anonymous source.
Revision3 was created in 2005 from ex-TechTV employees Kevin Rose and David Prager, along with Jay Adelson. It's found a lucrative niche in the gamer/techie audience, and now streams to 23 million unique viewers. Current Revision3 shows include "Tekzilla," "The Totally Rad Show," "Lifehacker," and "Epic Meal Time." The network's popular "Dignation" ended its run in January.
The acquisition seems like a solid fit for Discovery, which also serves an audience interested in science and technology.
The existing Revision3 leadership will stay in place following the acquisition, which should take place around June 1, 2012.
"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 for Discovery Communications.
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