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"Discovery Communications Inc., looking to jump-start a stalled Internet strategy, plans to acquire the HowStuffWorks.com Web site for $250 million.
Discovery, owner of cable channels such as Discovery Channel and Animal Planet, said it will use the site as the cornerstone of an effort to bring its vast library of video content to the Web. HowStuffWorks.com is a closely held company whose owners include investor Carl Icahn. The purchase also includes a number of digital properties, such as a map database, owned by HowStuffWorks, which isn't yet profitable.
The deal, set to be unveiled today, highlights how established media companies increasingly are expanding on the Web through targeted acquisitions instead of building their own sites, a strategy that largely has failed. Discovery's sites, which include online derivatives of its TV networks, have struggled to draw visitors..."
Full story on WSJ, http://online.wsj.com/article/SB119240620469258721.html?mod=hpp_us_whats_news
Discovery, owner of cable channels such as Discovery Channel and Animal Planet, said it will use the site as the cornerstone of an effort to bring its vast library of video content to the Web. HowStuffWorks.com is a closely held company whose owners include investor Carl Icahn. The purchase also includes a number of digital properties, such as a map database, owned by HowStuffWorks, which isn't yet profitable.
The deal, set to be unveiled today, highlights how established media companies increasingly are expanding on the Web through targeted acquisitions instead of building their own sites, a strategy that largely has failed. Discovery's sites, which include online derivatives of its TV networks, have struggled to draw visitors..."
Full story on WSJ, http://online.wsj.com/article/SB119240620469258721.html?mod=hpp_us_whats_news
