Thursday, May 3, 2012

Discovery Channel purchases Revision3 for 'roughly $30 million'

Discovery Channel purchases Revision3 for 'roughly $30 million

The Discovery Channel has expanded beyond its cable TV roots today and purchased Revision3, an internet video network that produces shows like Tekzilla and Epic Meal Time. The New York Times' Brian Stelter, who first reported on the acquisition, says that the cable network is paying "roughly $30 million" for Revision3, citing an anonymous source. According to AllThingsD, Revision3 will retain its approximately 50 employees and will continue to work at the company's headquarters in San Francisco.

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