Discovery Comm A (DISCA)

Discovery Communications, Inc. was formed on September 17, 2008, in connection with Discovery Holding Company 'DHC' and Advance/Newhouse Programming Partnership 'Advance/Newhouse' combining their respective ownership interests in Discovery Communications Holding, LLC ('DCH') and exchanging those interests with and into Discovery (the 'Discovery Formation'). The Company is a global nonfiction media and entertainment company that provides programming across multiple distribution platforms throughout the world. The Company distributes customized programming, in over 40 languages, in the U.S. and over 200 other countries and territories. Its global portfolio of networks includes prominent television brands such as Discovery Channel, one of the first nonfiction networks and its widely distributed global brand, TLC and Animal Planet. It also has a diversified portfolio of websites and other digital media services, develop and sell curriculum-based products and services, and provide postproduction audio services. Its content spans genres including science, exploration, survival, natural history, sustainability of the environment, technology, docu-series, anthropology, paleontology, history, space, archaeology, health and wellness, engineering, adventure, lifestyles, forensics, civilizations and current events. The Company's programming tends to maintain its relevance for an extended period of time. As a result, a significant amount of its content translates well across international borders and is made even more accessible through extensive use of dubbing and subtitles in local languages. The Company also creates local programming tailored to individual market preferences. The Company own and lease 1.6 million square feet of building space for the conduct of its businesses at 49 locations throughout the world. In the U.S. alone, it own and lease approximately 597,000 and 775,000 square feet of building space, respectively, at 19 locations. The Company's networks compete with other television networks, including broadcast, cable and local, for the distribution of its programming and fees charged to cable television operators, DTH satellite service providers and other distributors that carry its network programming. The Company's networks and websites also compete for their target audiences with all forms of programming and other media provided to viewers, including broadcast, cable and local networks, pay-per-view and VOD services, DVDs, online activities and other forms of news, information and entertainment. Its businesses are subject to and affected by regulations of U.S. federal, state and local government authorities, and its international operations are subject to laws and regulations of local countries and international bodies such as the European Union.