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MediaBuyerPlanner: Since Discovery Communications' new CEO David M. Zaslav took over the helm of the underperforming company, he has been actively reshaping and streamlining operations. In its latest move, Discovery has said that it will buy out Cox Communications, one of its part owners.
The $1.275 deal will also have Discovery giving Cox full ownership of the Travel Channel, along with the Travel Channel's website and Antenna Audio, a company which provides equipment for museum tours, writes Broadcasting & Cable.
The Travel Channel, distributed in 88.1 million homes, has just completed its best quarter ever.
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