Saturday, February 28, 2009

For Florida Nonprofits: Free Fundraising Consulting Hotline

FORT LAUDERDALE, Fla., Feb. 28 /PRNewswire/ -- Totally free, personalized fundraising consulting is now available for all Florida nonprofits 24/7 at www.fundraisershotline.com.

"Florida nonprofit fundraisers may ask anything they want - like How can I find donors? or How can I get my board to give more and to ask others to give? It's absolutely one-on-one attention. They won't be getting boilerplate answers," says Dr. Stephen L. Goldstein, creator of the hotline and president of The Nonprofit Institute, Educational Marketing Services in Fort Lauderdale.

"Nonprofits always have a hard time raising money. But many are really struggling in today's bad economy, especially in Florida. They need immediate professional advice tailored to their specific needs. But most nonprofits cannot afford to hire an expert to give them quick answers to their pressing questions. So, www.fundraisershotline.com gives them personal access to an experienced professional to be their sounding-board to increase their fundraising success," Goldstein adds.

That's what's so unique about the hotline. It's quick, efficient, direct --and free, of course. Getting answers from the hotline is simple. Go to www.fundraisershotline.com, fill out the short user form, ask a question, then send it to Dr. Goldstein. There is absolutely no cost or obligation. Every question is answered personally and within 24 hours.

Columnist, author, consultant, TV and radio personality, and workshop leader - Dr. Stephen L. Goldstein is a nationally recognized marketing, communications, and fundraising executive, as well as a trends analyst and forecaster. For more than 30 years, he has developed strategies for nonprofit success.

Dr. Goldstein is now the co-producer and host of "The Forum for Nonprofits," which airs on WNN & WSBR and may be heard 24/7 at www.forumfornonprofits.com. He was the producer and host of "Fundraising Success," a weekly radio program on WXEL, 90.7FM/National Public Radio and still available at any time from anywhere in the world at www.wxelpodcasts.org.

Dr. Goldstein's "Fundraising Guru" columns have appeared in The South Florida Sun-Sentinel and have been a regular feature of the Scripps papers on Florida's Treasure Coast. He is the author of the bestseller, 30 Days to Successful Fundraising.

Goldstein is also the developer of "Fundraising Briefing Books," the basis for the workshops and tailored consulting programs he offers nationwide.

    Media contact:
    Stephen Goldstern
    954-772-4455
    trendsman@aol.com

[Via http://www.prnewswire.com]

Cable, Dish Satellite and Now Home Stations Installations

The Country's Newest Company to Compete with Cable and Dish Satellite

SCRANTON, Pa., Feb. 27 /PRNewswire/ -- While reports of rising unemployment rates and job cuts have dominated the news recently, a new company, Home Stations Installations, opened in West Pittston, Pennsylvania.

"For the past year, I've been working on this new business," says President/CEO Gary Zurenda of Exeter, Pennsylvania. The business has to do with DTV converter boxes and digital antennas. "I have kept it very quiet due to the fact that I'm a new company, and the cable and satellite companies are established corporations that have been around for the last 30 years. It's a great feeling knowing I can help free people from a monthly bill so they can put that savings towards their family."

Now the secret is out; he has opened a 50/100 person call center and is putting 10,000 plus installers nationwide to work immediately. Thanks to President Barack Obama, he feels confident that the government will encourage and assist the everyday person in taking the plunge into a new business during these difficult times.

"We can easily install thousands of homes per week," says Executive Director Colleen Daly. "I want my free DTV; that is what I hear most. It is important that the poor, shut-ins, and misfortunate have at least 1 television working in case of a crisis because this is the emergency frequency. I met with two high ranking Senators' offices and one high ranking Congressman's office, and they are still not sure how to help. I suggested a government coupon to the very needy." The company gives a 10% discount to seniors and veterans.

Finally, there is a national company that has professional technicians that will come to your home and hook up your products or their products for a one time affordable fee. For those that are in need, Home Stations Installations can be reached at 1-877-474-3887 or by visiting them on the web at www.iwantmyfreedtv.com. Who would ever think that cable/satellite would be a luxury -- not a necessity?

[Via http://www.prnewswire.com]

A Neil Lane Engagement Ring Will Make One Bachelorette's Dreams Come True on ABC's The Bachelor

Jason Mesnick to Propose with Three-Carat Neil Lane Diamond Ring

LOS ANGELES, Feb. 27 /PRNewswire/ -- Celebrity jeweler extraordinaire Neil Lane (www.neillanejewelry.com ) adds sparkle to ABC's "The Bachelor," from Warner Horizon Television, when Jason Mesnick proposes to one lucky bachelorette on Monday, March 2nd. The top-rated reality series will come to a close as Mesnick will get down on one knee and propose with a hand-crafted Neil Lane marquise-cut diamond and platinum ring which is encrusted and set with 170 smaller diamonds for a total weight of 3.18 carats. The center diamond is a 1.94-carat marquise-cut diamond, which is D in color, a top grade, and VS1 clarity with a GIA certificate. The ring, designed by Lane, bears the signature Neil Lane script in the shank.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090227/LA76958)

Mesnick who had been courting women for seven weeks on the ABC series, selected this ring from three Neil Lane designs with different cuts of diamonds, including oval and pear. Neil Lane, with a fabulous eye for elegance and style, is the favorite for Hollywood brides to be. Neil Lane has supplied engagement rings for everyone from Reese Witherspoon and Kate Hudson to Sandra Bullock, Brooke Shields and Jennifer Hudson.

As an avid collector of fine jewelry with an eye for designing pieces exuding both style and elegance, Neil Lane has earned the respect and admiration of an all-star crowd. Whether worn for the Oscars, or other red-carpet events or engagements, his iconic jewelry designs have been adorned by some of the most beautiful and powerful women in Hollywood, including Angelina Jolie, Charlize Theron, Elizabeth Taylor, Gwyneth Paltrow, Jennifer Garner, Jennifer Lopez, Madonna, and many others.

Neil Lane jewelry has graced the covers of Vogue, Harper's Bazaar, W and many other high-end fashion publications. As a leading Hollywood jewelry designer, hailed in the media as The King of Bling, the Ace of Diamonds, Neil Lane has influence and impact both domestically and internationally.

Neil Lane

708 N. La Cienega Boulevard

Los Angeles, CA 90069

For more information on Neil Lane Jewelry, please contact info@neillanejewelry.com

[Via http://www.prnewswire.com]

Friday, February 27, 2009

Acorn International to Announce Fourth Quarter and Full Year 2008 Financial Results on March 9, 2009

SHANGHAI, Feb. 27 /PRNewswire-Asia-FirstCall/ -- Acorn International, Inc. ("Acorn") (NYSE: ATV), a leading integrated multi-platform marketing company in China, will release its financial results for the fourth quarter and fiscal year ended December 31, 2008 before the market opens on Monday, March 9, 2009. A copy of the earnings release will be available on the company's website at http://www.chinadrtv.com .

Acorn's management has scheduled a conference call at 8:00 a.m. ET on March 9, 2009 (8:00 p.m. Beijing Time) to discuss the Company's perspective on the results and answer questions. You may access the live interactive call via:

    -- +1 866 549 1292 (U.S. Toll Free)
    -- +800 701 1223 (China Toll Free)
    -- +852 3005 2050 (International)
    -- Passcode: ATV

Please dial-in approximately 10 minutes in advance to facilitate an on-time start.

A replay will be available for approximately two weeks after the call and may be accessed via:

-- +852 3005 2020 (International)

-- Passcode: 136511#

A live and archived webcast of the call will be available on the Company's website at http://www.chinadrtv.com .

About Acorn

Acorn International (NYSE: 'ATV') is a leading integrated multi-platform marketing company in China, operating China's largest TV direct sales business in terms of revenues and TV air time and a nationwide off-TV distribution network. Acorn's TV direct sales platform consists of airtime purchased from both national and local channels. In addition to marketing and selling through its TV direct sales programs and its off-TV nationwide distribution network, Acorn also offers consumer products and services through catalogs, an outbound telemarketing center and an e-commerce website. Leveraging its integrated multiple sales and marketing platforms, Acorn has built a proven track record of developing and selling proprietary-branded consumer products, as well as products and services from established third parties.

    For further information, please contact:

    Acorn International
     Chen Fu, Director of Investor Relations
     Tel:   +86-21-5151-8888 x2228
     Email: ir@chinadrtv.com

    PRChina
     Jane Liu
     Tel:   +852-2522-1838
     Email: jliu@prchina.com.hk

     Henry Chik
     Tel:   +852-2522-1368
     Email: hchik@prchina.com.hk

[Via http://www.prnewswire.com]

Top Chef Season 5 Show Favorite, Fabio Viviani Will Act as American Spokesperson for Italy's Number One Selling Frozen Pizza

Dr. Oetker's Ristorante will partner with the Top Chef star to introduce the great tasting, gourmet Italian restaurant style frozen pizza to American homes this summer

STUDIO CITY, Calif., Feb. 26 /PRNewswire/ -- Fans of Bravo TV's Top Chef can look forward to more flavor from the series' "Italian Stallion," Fabio Viviani. Dr. Oetker, the number one frozen pizza manufacturer in Italy, is launching its best-selling Ristorante brand in the United States and the season five star has signed on to be the spokesperson.

Fabio Viviani, who was born in Florence and recalls Dr. Oetker pizza from his childhood, will participate in a five-city media tour this summer to introduce the favorite brand of thin-crust pizza lovers throughout Europe and Canada to consumers in the northeastern United States.

"Growing up in Italy, my mom often had Dr. Oetker's products in the home so I'm excited to help introduce Ristorante brand frozen pizzas to American households," explained Viviani. "As a chef, I am very particular about the ingredients that I select. That's why I am a fan of Dr. Oetker's Ristorante pizza because it features fresh, high-quality ingredients, such as spinach, mozzarella, mushrooms and other vegetables on a thin crispy crust."

"We are eager to introduce the authentic taste of Dr. Oetker Ristorante to American pizza-lovers and feel Fabio is the perfect voice for the brand," said William Whalen, executive vice president for Dr. Oetker U.S.A., LLC. "He has an incredible personality and a real passion for cooking, eating and entertaining with great food."

Lots of Americans are eating out less often but they still want to enjoy the taste and fresh flavors like the ones featured on Top Chef or found in an Italian restaurant, such as Cafe Firenze," said Viviani.

"Dr. Oetker's Ristorante pizza is a delicious and convenient way to capture the essence of Italian restaurant dining in the home."

Northeast U.S. Products are priced from $4.99 to $5.99. To learn more about Dr. Oetker, please visit www.oetker.us.

About Fabio Viviani

Fabio is the Owner and Executive Chef of Cafe Firenze, one of the most recognized restaurants in Ventura County. Born and raised in Florence, Italy, he incorporates Italian, French and Spanish influences in his dishes and believes that cooking is a craft.

www.cafefirenze.net.

About Dr. Oetker

The Dr. Oetker company started in Germany in 1891 with the development of a special baking powder, Backin, that produced extraordinary baking results. More than 30 years ago, the first frozen pizza was launched in Germany and, today, Dr. Oetker is the market leader of frozen pizza in most European countries. In 2003, Ristorante Pizza was introduced in Canada and has continued to maintain an overwhelming amount of success in the market place. For more information about Dr. Oetker and Ristorante, please visit www.oetker.us.

[Via http://www.prnewswire.com]

TV Azteca Announces Net Sales of Ps.2,909 Million and EBITDA of Ps.1,401 Million In 4Q08

MEXICO CITY, Feb. 26 /PRNewswire-FirstCall/ -- TV Azteca, S.A. de C.V. (BMV: TVAZTCA; Latibex: XTZA), one of the two largest producers of Spanish- language television programming in the world, announced today net sales of Ps.2,909 million, EBITDA of Ps.1,401 million and EBITDA margin of 48% for the fourth quarter of 2008.

"We were able to preserve the solid top line level reported in the prior year and multiply net profit by four in the quarter, despite the difficult economic environment," said Mario San Roman, Chief Executive Officer of TV Azteca. "On the operating front, we further strengthened our successful programming grid, particularly in prime time, positively influencing sales in the period, and setting the basis for a firm market positioning in 2009."

Fourth Quarter Results

Net sales were Ps.2,909 million, practically unchanged compared to Ps.2,898 million in the same quarter of 2007. Total costs and expenses were Ps.1,508 million, from Ps.1,381 million in the same period of the previous year. As a result, TV Azteca reported EBITDA of Ps.1,401 million, compared to Ps.1,517 million in the fourth quarter of 2007. The company registered net majority income of Ps.863 million, more than four times above the Ps.186 million in the same period of 2007.

Net Sales

"The growing popularity of our content -- especially novelas and La Academia: Ultima Generacion -- translated into a 41% commercial audience share in prime time in the quarter. Successful programming was key to build effective advertising campaigns for recognized brands in Mexico, and enhanced demand for multiple ad spaces in the period," added Mr. San Roman.

Fourth quarter revenue includes sales of Ps.62 million from Proyecto 40, which have been consolidated in TV Azteca results beginning this year.

TV Azteca also reported net sales from Azteca America -- the company's wholly owned broadcast television network focused on the U.S. Hispanic market -- of Ps.194 million, compared to Ps.132 million a year ago.

Programming sales to other countries were Ps.15 million in the period, compared to Ps.26 million the prior year. Revenue this quarter resulted from the sale of the shows Lo que Callamos las Mujeres and Montecristo in Latin America, and Bellezas Indomables in Europe.

Revenue from barter sales was Ps.112 million, practically unchanged from Ps.113 million from the previous year.

Costs and Expenses

Total costs and expenses grew 9% in the quarter, as a result of a 13% increase in programming, production and transmission costs -- to Ps.1,219 million, from Ps.1,079 million in the same period a year ago -- and a 4% reduction in selling and administrative expenses -- to Ps.288 million, compared to Ps.302 million in the same quarter of 2007.

The increase in costs reflects the consolidation of Proyecto 40 in TV Azteca results, and the effect of the exchange rate depreciation on peso disbursements of the acquired programming that was transmitted during the quarter.

Decrease in selling and administrative expenses resulted from reductions in operating and travel expenses, and advisory fees, as a result of initiatives that punctually control the company's outlays.

TV Azteca continues to seek additional actions to reduce expenses, as a response to the deceleration of the economic activity in Mexico.

EBITDA and Net Income

EBITDA was Ps.1,401 million, compared with Ps.1,517 million in the same period of the prior year; EBITDA margin was 48%.

Below EBITDA the main changes were: i) reduction of Ps.798 million in provision for taxes, due primarily to an extraordinary charge in the deferred income tax a year ago, ii) decrease of Ps.80 million in other financial expense, and iii) a Ps.60 million increase in interest paid, due to changes in the debt balance.

Net majority income for the period was Ps.863 million, more than four times higher than Ps.186 million a year ago.

Advertising Advances

The balance of advertising advances as of December 31, 2008 was Ps.3,971 million, 8% above Ps.3,693 million in the prior year.

The company considers that growth in advertising advances represents a vote of confidence of clients regarding the effectiveness of TV Azteca content to reach target markets.

Debt

As of December 31, 2008, TV Azteca's outstanding debt -- excluding Ps.1,621 million debt due 2069 -- was Ps.8,043 million.

Such debt is peso denominated, and of it, Ps.6,000 million are long term Securities Certificates. The interest rate is fixed at 9.29% annually, thanks to interest coverage for the next three years.

The cash balance was Ps.3,250 million, which resulted in net debt of Ps.4,793 million. Debt to last twelve months (LTM) EBITDA ratio was 2.1 times, and net debt to LTM EBITDA was 1.2 times.

Twelve Months Results

Net sales in 2008 were Ps.9,815 million, 3% above the Ps.9,505 million reported a year ago. Total costs and expenses were Ps.5,923 million, from Ps.5,482 million in the same period in the prior year, primarily due to the consolidation of Proyecto 40 in TV Azteca results and the production and transmission of the Summer Olympic Games in Beijing. As a result, TV Azteca reported EBITDA of Ps.3,893 million in the year, compared to Ps.4,022 million in 2007. The company reported majority net income of Ps.1,054 million, from net income of Ps.1,041 million in the prior year.

Company Profile

TV Azteca is one of the two largest producers of Spanish-language television programming in the world, operating two national television networks in Mexico, Azteca 13 and Azteca 7, through more than 300 owned and operated stations across the country. TV Azteca affiliates include Azteca America Network, a new broadcast television network focused on the rapidly growing U.S. Hispanic market, and Azteca Web, an Internet company for North American Spanish speakers.

TV Azteca is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast growing, and technologically advanced companies focused on creating shareholder value, and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas, Grupo Salinas operates as a management development and decision forum for the top leaders of member companies.

Except for historical information, the matters discussed in this press release are forward-looking statements and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Other risks that may affect TV Azteca and its subsidiaries are identified in documents sent to securities authorities.

                             Investor Relations:
    Bruno Rangel                                      Dinorah Macias
    + 52 (55) 1720 9167                              + 52 (55) 1720 0041
    jrangelk@tvazteca.com.mx                         dmacias@tvazteca.com.mx

                               Press Relations:
    Tristan Canales                                    Daniel McCosh
    + 52 (55) 1720 1441                              + 52 (55) 1720 0059
    tcanales@gruposalinas.com.mx                   dmccosh@tvazteca.com.mx

(Financial tables follow)



                    TV AZTECA, S.A. DE C.V. AND SUBSIDIARIES
                        CONSOLIDATED RESULTS OF OPERATIONS
           (Millions of Mexican pesos of December 31, 2007 and 2008 )

                                     Fourth Quarter of:
                                2007            2008
                                                                   Change

    Net revenue             Ps 2,898  100% Ps  2,909   100%    Ps    11    0%

    Programming, production
     and transmission costs    1,079   37%     1,219    42%         140   13%
    Selling and
     administrative expenses     302   10%       288    10%         (13)  -4%

    Total costs and expenses   1,381   48%     1,508    52%         127    9%

    EBITDA                     1,517   52%     1,401    48%        (115)  -8%

    Depreciation and
     amortization                126             129                  4

    Operating profit           1,391   48%     1,272    44%        (119)  -9%

    Other expense -Net          (301)           (308)                (6)

    Comprehensive financing
     result:
    Interest expense            (200)           (261)               (60)
    Other financing expense      (97)            (17)                80
    Interest income               31              23                 (8)
    Exchange gain  -Net            3              39                 36
    Gain on monetary
     position                     44              -                 (44)
                                (220)           (216)                 4

    Income before the
     following provision         870   30%       749    26%        (121) -14%

    Provision for income tax    (684)            114                798

    Net income              Ps   187         Ps  863            Ps  676

    Net income
     of minority
     stockholders           Ps     1         Ps    -            Ps   (1)

    Net income
     of majority
     stockholders           Ps   186    6%   Ps  863    30%     Ps  677  365%


                    TV AZTECA, S.A. DE C.V. AND SUBSIDIARIES
                        CONSOLIDATED RESULTS OF OPERATIONS
           (Millions of Mexican pesos of December 31, 2007, and 2008)

                                      Year ended December 31,

                                      2007           2008            Change
    Net revenue                   Ps 9,505  100% Ps 9,815  100%  Ps  311    3%

    Programming, production
     and transmission costs          4,323   45%    4,767   49%      444   10%
    Selling and administrative
     expenses                        1,159   12%    1,156   12%       (3)   0%

    Total costs and expenses         5,482   58%    5,923   60%      440    8%

    EBITDA                           4,022   42%    3,893   40%     (130)  -3%

    Depreciation and amortization      434            479             45

    Operating profit                 3,588   38%    3,414   35%     (175)  -5%

    Other expense -Net                (744)          (867)          (122)

    Comprehensive financing result:
    Interest expense                  (799)          (868)           (70)
    Other financing expense           (162)          (119)            42
    Interest income                    110             93            (17)
    Exchange (loss) gain -Net          (10)            79             89
    Gain on monetary position           70              -            (70)
                                      (790)          (816)           (26)

    Income before the following
     provision                       2,053   22%    1,731   18%     (323) -16%

    Provision for income tax        (1,013)          (676)           336

    Net income                    Ps 1,041        Ps1,055          Ps 14

    Net income of minority
     stockholders                 Ps    (1)       Ps    1              1
         Net income of majority
         stockholders             Ps 1,041   11%  Ps1,054   11%    Ps 13    1%



                    TV AZTECA, S.A.  DE C.V. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
           (Millions of Mexican pesos of December 31, 2007 and 2008 )


                                             At December 31,
                                            2007        2008
                                                                 Change
    Current assets:
    Cash and cash equivalents          Ps   1,678  Ps   3,250 Ps  1,572
    Accounts receivable                     4,210       4,547       337
    Other current assets                    1,337       1,642       305

    Total current assets                    7,225       9,439     2,214   31%

    Long-term accounts receivable from
     Pappas                                 1,672       2,039       367
    Exhibition rights                         476         524        48
    Property, plant and equipment-Net       2,985       3,242       257
    Television concessions-Net              4,636       4,650        14
    Other assets                            1,611       1,539       (72)
    Goodwill - Net                            154         159         5
    Deferred income tax asset                 469         259      (210)
    Total long term assets                 12,003      12,412       409    3%

    Total assets                       Ps  19,228  Ps  21,851 Ps  2,623   14%


    Current liabilities:
    Short-term debt                    Ps     -    Ps   1,984 Ps  1,984
    Other current liabilities               3,760       3,225      (535)

    Total current liabilities               3,760       5,209     1,449   39%

    Long-term debt:
    Structured Securities Certificates      6,000       6,000       -
    Long-term debt                            -            60        60
    Total long-term debt                    6,000       6,060        60
    Other long term liabilities:
    Advertising advances                    3,693       3,971       278
    Exhibition rights payable                  36         -         (36)
    American Tower Corporation (due 2069)   1,301       1,621       320

    Total other long-term liabilities       5,030       5,592       562   11%

    Total liabilities                      14,790      16,861     2,071   14%

    Total stockholders' equity              4,438       4,990       552   12%

    Total liabilities and equity       Ps  19,228  Ps  21,851 Ps  2,623   14%

[Via http://www.prnewswire.com]

Thursday, February 26, 2009

Commander's Palace in New Orleans Hosts Bravo's 'Top Chef' Season Five Finale

Co-Owner Ti Adelaide Martin and Executive Chef Tory McPhail Participate in Episode

NEW ORLEANS, Feb. 25 /PRNewswire/ -- Commander's Palace, the celebrated New Orleans restaurant, welcomed Bravo's "Top Chef: New York" cast and crew for the filming of the season finale, which aired earlier this evening, Wednesday, February 25. Co-Owner Ti Adelaide Martin and Executive Chef Tory McPhail served as judges. (Co-Owner Lally Brennan was unable to join due to a prior commitment in New York City for a charity event.)

From welcoming the cast and crew for cocktails in the parlor to executing Commander's famous style of team service, the Commander's Palace family was thrilled to work with "Top Chef".

Executive Chef Tory McPhail, who turned over his kitchen to the final three contestants for the afternoon, said "My favorite moment was the look on the contestant's faces when an entire alligator was presented as the final challenge." (Chef Tory, a seasoned hunter of all game - including alligators - has prepared many an alligator dish in the Commander's kitchen.)

"We were thrilled to hear 'Top Chef' was planning to film in New Orleans and doubly so when they inquired about taping at Commander's," says Co-Owner Ti Adelaide Martin. "The dinner had all the elements of a great New Orleans-style meal: great food, well-made cocktails and repartee - the perfect combination!"

About Commander's Palace

The renowned Commander's Palace restaurant, celebrating 129 years of business, is where top chefs Paul Prudhomme, Emeril Lagasse and the late Jamie Shannon each launched their careers. Commander's Palace, recently voted "Most Popular" by Zagat Survey for the eighteenth year, has also amassed numerous awards, among them the James Beard Foundation's Lifetime Outstanding Restaurant Award, Lifetime Service Award and Who's Who of Food and Beverage Award. In March 2008, Commander's Palace Family of Restaurants was inducted into the Culinary Institute of America's Hall of Fame, one of only three families to ever win the CIA's leadership award.

Commander's Palace offers dinner from 6 p.m. to 10 p.m. daily and lunch from 11:30 a.m. to 1:30 p.m. Monday through Friday. Jazz Brunch is served 11:30 a.m. to 1 p.m. on Saturday, and 10:30 a.m. until 1:30 p.m. on Sunday. Reservations are recommended and may be made by calling (504) 899-8221.

[Via http://www.prnewswire.com]

Wednesday, February 25, 2009

WWE Monday Night RAW Ratings Soar Over the Top Rope

Last Two Weeks on USA Nets Highest Ratings in Almost Seven Years

NEW YORK, Feb. 25 /PRNewswire/ -- The last two weeks on WWE MONDAY NIGHT RAW have broken ground to ratings highs not seen in almost seven years for the year-round ratings titan. The 2/16 and 2/23 episodes have delivered an average of 6.015 million total viewers, 3.028 million in P18-49, 2.9 million in P25-54, 4.055 million households and a household coverage rating of 4.1.

"Charismatic characters, high production value, intricate storylines, action-adventure, soap opera, rock concert, comedy, athleticism, and drama are all a recipe for success. When combined with the partnership of USA Network, Monday Night RAW is the undisputed champion of cable television" said Kevin Dunn, Executive Vice President, Television Production.

  • The two week delivery of 6 million total viewers for RAW was the first time that has happened in almost seven years -- since April 2002
  • RAW delivered over 3 million in P18-49 two weeks in a row, the first time that has happened in 6 /12 years -- since August 2002
  • This past week the 10pm hour USA was the #1 TV network among M18-34 (1.153 million) almost doubling the nearest competitor ABC. The 10pmRAW segment also drew in more M18-34 viewers for the night than Fox's 24 (9pm). USA was also #1 in the 10pm hour, above all TV channels, among M25-54 (2.262 million) and M18-49 (2.219 million) and beat CSI Miami among P18-49 (3.258 million). In the 9pm hour USA topped both ABC's The Bachelor and CBS among M18-34 (880,000) and beat The Bachelor among both M18-49 (1.1814 million) and M25-54 (1.951).

*Note: all weekly daypart and program data is Live+SD.

USA Network is the #1 network in all of basic cable and is seen in 94 million U.S. homes. A division of NBC Universal, USA is the cable television leader in original series and is home to the best in blockbuster theatrical films, acquired television series and entertainment events. The award-winning USA website is located at www.usanetwork.com. Characters Welcome.

USA Network is a program service of NBC Universal Cable a division of NBC Universal, one of the world's leading media and entertainment companies in the development, production, and marketing of entertainment, news, and information to a global audience.

[Via http://www.prnewswire.com]

IndoorDIRECT Closes Funding to Launch Major Expansion of theBITE

Restaurant Network to Grow to 1,000 Locations

DALLAS, Feb. 25 /PRNewswire/ -- IndoorDIRECT announced that it has secured a funding package that could reach $22.5 million to complete the rollout of its in-store entertainment network into 1,000 quick-service and fast-casual restaurants from its current base of 430 locations.

The funding was led by Syncom Venture Partners, a firm that specializes in media properties. Joining them were Northwood Ventures LLC and Poseidon Enterprises LLC, which also have considerable media expertise. Challenger Capital Group LTD and Haynes & Boone LLP assisted in the transaction.

The funding will allow indoorDIRECT to establish an initial national media platform of more than 10 million viewers per month in top DMAs.

"Our network is an effective way for advertisers to reach consumers for many reasons," said Bill Myers, Co-Founder and COO. "We entertain our viewers with engaging content that people enjoy watching and listening to while they are sitting, not just walking past the screens. This enables impressions to really register with viewers who are in most cases close to retail sites where they can immediately act on the messages presented to them."

"We feel that indoorDIRECT is reaching captive customers who want to be entertained," said Duane McKnight, head of Syncom Venture Partners. "In a time of TIVO and channel switching, this venue is especially effective for advertisers." Peter Schiff of Northwood Ventures LLC added, "As one of the first serious investors in this booming sector, we feel the advertising community will strongly embrace the consumer reach this network creates."

About theBITE Network

Each week indoorDIRECT creates and produces theBITE Network, the program which airs on its LCD screens in restaurant dining rooms, providing advertisers with national reach in a receptive environment. Four dynamic hosts, selected exclusively for theBITE, host the 60-minute program reporting on news, entertainment, music and sports. TheBITE features customized content for a range of interests such as music videos, NASCAR updates, college football features and content from providers including CBS, TBS, TNT, Speed and most recently NFL Network. TheBITE also features scrolling text with breaking news, sports updates and localized time and weather. Catch the latest from theBITE at www.thebitenetwork.com/STREAM.

Fred Margolin, the company's CEO, said that indoorDIRECT is pleased to be working with leading restaurant chains that have a total of more than 30,000 locations nationwide. "Our rollout to more restaurant locations will enable us to attract greater advertiser attention and we will have the opportunity to grow very quickly," he said.

"We are gratified by the positive response we've gotten from franchisors and franchisees of restaurant chains throughout the country that have installed the indoorDIRECT system," said Michael Winton, President and Co-Founder. "They immediately see the network helps store profitability and makes the dine-in experience much more enjoyable for their customers."

About indoorDIRECT

IndoorDIRECT is a powerful digital out-of-home media company providing entertainment content to high-volume quick-service and fast-casual restaurant chains across the nation. IndoorDIRECT created theBITE Network -- a combination of entertainment content and advertising tailored to reach the millions of Americans who visit quick-service and fast-casual restaurant chains every month. IndoorDIRECT LCD screens are located in restaurant dining rooms, as well as a promotional board at the point-of-purchase to highlight featured menu items. The promotional network has shown proven results that about 40 percent of the customers are influenced. The company is privately held and has its headquarters in Dallas. More information is available at www.indoordirect.com.

[Via http://www.prnewswire.com]

Video: Ad Council Launches New PSAs and Social Media Tools to Prevent Youth Reckless Driving

Campaign empowers teens to 'Say Something'

WASHINGTON, Feb. 25 /PRNewswire/ -- For more than two decades, car crashes have been the number one killer of teens in the United States, according to the National Highway Traffic Safety Administration (NHTSA). The Advertising Council joined today with a coalition of state Attorneys General and consumer protection agencies to launch a new series of public service advertisements (PSAs) designed to save lives by reducing youth reckless driving.

To view the Multimedia News Release, go to: http://www.prnewswire.com/mnr/adcouncil/36881/

NHTSA data shows that, on average, more than 300,000 teens are injured in car crashes each year, nearly 8,000 are involved in fatal crashes and more than 3,500 are killed. Research also shows that teen drivers are involved in more than five times as many fatal crashes as adults. Young drivers are more likely to speed, run red lights, make illegal turns and die in an SUV rollover.

First launched in January 2007, the Youth Reckless Driving Prevention campaign targets teens and young adults between the ages of 15 and 21 and encourages them to speak up when they are in the car with friends who are driving recklessly and they don't feel safe. The campaign also seeks to increase awareness about the dangers of reckless driving and educate teens on how to be safe drivers by focusing on safe speeds, avoiding distractions, wearing seat belts, and the differences associated with driving SUVs.

"This PSA campaign has a real opportunity to reach teens around the country," said Thurbert Baker, Attorney General of Georgia. "By speaking up about reckless driving, young people can save lives, both their own and those of their friends."

Research conducted by the Ad Council shows that teen drivers are more likely to listen to their friends than the adults in their lives. In a survey conducted in 2007, 8 in 10 teens said that when a friend speaks up, they will listen because they don't want to damage the friendship, be labeled a bad driver or cause harm to their friends.

Created pro bono by ad agency Y&R New York, the new television, radio, outdoor and interactive elements continue the peer-to-peer intervention strategy utilized in the first round of creative and communicate to teens "If your friend is driving recklessly, say something." The television spots feature comedians Rachel Harris, Fred Willard and Rob Riggle acting as teen passengers who humorously "speak up" to prevent a car crash.

"According to our research, since the launch of the campaign two years ago there has been a significant increase in the proportion of young adults that said they spoke up every time a friend was driving recklessly," said Peggy Conlon, President and CEO of the Ad Council. "I'm confident that this new round of PSAs, featuring comedians that appeal to our target audiences, will continue to raise awareness and inspire teens to 'speak up' when they're in a car and don't feel safe."

The PSAs direct audiences to visit www.SpeakUpOrElse.com, where they can find the motivation and tools to help them speak up. The newly redesigned site houses the PSAs and teaches teens the importance of driving safely. Additional elements to be added to the site soon include a free iPhone and iPod Touch application that turns the device into a bullhorn with flashing lights that can be used to inform a friend of his or her reckless driving. The site will also let the user send instant message videos, starring the comedians, to friends. The recipient, expecting a friend to chat, will receive a reckless driving video instead. All of these tools are designed to get the point across with humor rather than a heavy hand.

A social media program kicking off this week will help promote the campaign and website on social networking sites and blogs targeted to teens. Additionally, non-profit partners such as SADD (Students Against Destructive Decisions) will be helping to spread the message by reaching out to its 350,000 student members.

The Ad Council is distributing the new PSAs to media outlets nationwide this week. Per the Ad Council's model, the ads will run and air in time and space donated by the media. Since its launch, the campaign has received more than $44.5 million in donated support.

The Advertising Council

The Ad Council (www.adcouncil.org) is a private, non-profit organization that marshals talent from the advertising and communications industries, the facilities of the media, and the resources of the business and non-profit communities to produce, distribute and promote public service campaigns on behalf of non-profit organizations and government agencies in issue areas such as improving the quality of life for children, preventive health, education, community well-being, environmental preservation and strengthening families.

State Attorneys General and Consumer Protection Agencies

The coalition of Attorneys General and consumer protection organizations is a multi-state group comprised of the Offices of the Attorney General and Consumer Protection Agencies of all 50 states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands. Funds generated in a settlement with Ford Motor Company were earmarked for public education, with a focus on SUV safety tips through public service advertising such as that of the Youth Reckless Driving Prevention campaign.

Y&R New York

Y&RNY is the flagship agency of Y&R, one of the world's leading marketing communications companies. Founded in 1923, Y&R was the first agency to be founded by a creative, Raymond Rubicam. Today, the agency's work spans the communications spectrum, including viral, interactive and ambient marketing. Y&RNY is HQ for some of the agency's largest global clients, including Colgate-Palmolive, Xerox and Campbell's Soup Company, as well as clients such as UNCF (the United Negro College Fund), Rubbermaid, MetLife and Fisher-Price, among others.

[Via http://www.prnewswire.com]

Discovery Communications Reports Full Year and Fourth Quarter 2008 Results

Full Year 2008 Financial Highlights:

- Revenues increased to $3.44 billion

- Adjusted OIBDA increased to $1.31 billion

- Net income from continuing operations increased to $274 million

- Free Cash Flow increased to $467 million

SILVER SPRING, Md., Feb. 25 /PRNewswire-FirstCall/ -- Discovery Communications, Inc. ("Discovery" or the "Company") (Nasdaq: DISCA, DISCB, DISCK) today reported financial results for the full year and fourth quarter ended December 31, 2008. The discussion below assumes the transaction between Discovery Holding Company ("DHC"), Discovery Communications Holding LLC ("DCH"), and Advance/Newhouse Programming Partnership that resulted in Discovery becoming a public company, as described in the Other Items section on page 5, occurred on January 1, 2007 and as such includes 100% of Discovery Communications' results for both 2008 and 2007. Please see the as adjusted financial statements beginning on page 14 for an explanation of why management believes this presentation is appropriate.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080918/NETH035LOGO )

David Zaslav, Discovery's president and chief executive officer, said, "This past year was one of significant accomplishment for Discovery, as we delivered strong operating performances across our businesses and successfully transitioned to a fully public company. Strategically, we strengthened the programming and development at our fully distributed channels and finished the year with double digit ratings growth in the fourth quarter among key demos at Discovery Channel and TLC. We also established new identities for several of our emerging networks and continued our international expansion, increasing our subscriber base overseas by 16%. Most importantly, our strategic initiatives were achieved while strongly growing revenues and Adjusted OIBDA, in what are increasingly challenging times. As we execute our 2009 operating plan in a difficult economic climate, our stable foundation of contracted and growing subscription revenues, diversified international expansion and stringent focus on costs give us confidence that we will outperform the marketplace and continue to grow moving forward."

Fourth Quarter Results

Fourth quarter revenues of $904 million increased $1 million over the as adjusted(1) fourth quarter a year ago as 8% growth at U.S. Networks was mostly offset by a 23% decline in Commerce, Education and Other as well as a 4% decline at International Networks, primarily the result of a $33 million impact from foreign currency fluctuations. Adjusted Operating Income Before Depreciation and Amortization ("OIBDA") grew to $362 million, an increase of $222 million versus the fourth quarter a year ago, mainly driven by an increase of $188 million at U.S. Networks and an increase of $26 million, or 32%, at International Networks. The prior year results included a content impairment charge of $139 million, primarily at U.S. Networks. Excluding the impact of the content impairment charge, Adjusted OIBDA increased $64 million or 23% from the prior year. Adjusted OIBDA margin, excluding the impact of the content impairment charge, increased to 38% for the fourth quarter, up from 31% in the same period a year ago. Adjusted OIBDA is defined as revenue less (i) cost of revenues and selling, general and administrative expense excluding marked to market share-based compensation expense under our long-term incentive plans, (ii) restructuring and impairment charges, (iii) depreciation and amortization, including amortization of deferred launch incentives and (iv) gains on assets and business dispositions.

Fourth quarter net income from continuing operations of $105 million ($0.25 per share) grew $113 million versus the as adjusted(1) loss from continuing operations of $8 million ($0.03 per share) a year ago.

Free cash flow was $128 million for the fourth quarter, an increase of $24 million from the as adjusted(1) results in the same period for 2007. Free cash flow is defined as cash flows from operating activities less acquisitions of property and equipment.

Full Year Results

Full year 2008 revenues of $3,443 million increased 10% or $302 million over the as adjusted(1) revenues for 2007, primarily driven by 10% growth at U.S. Networks and 12% growth at International Networks. Adjusted OIBDA increased 49% to $1,310 million led by 37% growth at U.S. Networks and 52% growth at International Networks. The prior year results included a content impairment charge of $139 million, primarily at U.S. Networks. Excluding the impact of the content impairment charge, Adjusted OIBDA increased $216 million or 21% from the prior year and Adjusted OIBDA margin grew to 38% in 2008, up from 28% in 2007.

Full year net income from continuing operations of $274 million ($0.85 per share) grew $123 million versus the as adjusted results(1) of $151 million ($0.54 per share) a year ago. The increased results primarily reflect the higher Adjusted OIBDA as well as a $69 million benefit in the current year related to the unrealized change in the fair value of the marked to market share-based compensation, which was an expense of $141 million in the prior year.

Free cash flow was $467 million for 2008, an increase of $295 million from the as adjusted(1) results in 2007.

    (1)  See the as adjusted financial statements beginning on page 14 for
         2007 results.

    SEGMENT RESULTS
    (dollars in millions)     Three Months Ended      Twelve Months  Ended
                                 December 31,            December 31,
                              2008    2007   Change   2008    2007   Change
                                  (As adjusted)           (As adjusted)

    Revenues (1)(2)(3):
       U.S. Networks          $536    $498     8%   $2,062  $1,879    10%
       International
        Networks               294     307    (4%)   1,158   1,030    12%
       Commerce, Education,
        and Other               70      91   (23%)     196     225   (13%)
        Corporate                4       7   (43%)      27       7   286%
     Total Revenues           $904    $903     -    $3,443  $3,141    10%

    Adjusted OIBDA (1)(2)(3):
       U.S. Networks          $300    $112   168%   $1,111    $810    37%
       International
        Networks               107      81    32%      387     254    52%
       Commerce, Education,
        and Other               11       -     -        13       4   225%
        Corporate              (56)    (53)    6%     (201)   (189)    6%
    Total Adjusted OIBDA      $362    $140   159%   $1,310    $879    49%

    (1) 2007 excludes Travel Channel results through its disposition on May
        14, 2007. See the supplemental financial schedules on page 11 for
        Travel Channel results.
    (2) All results exclude the Discovery Channel Stores which ceased
        operations in the third quarter of 2007 and have been treated as part
        of discontinued operations.
    (3) See the supplemental financial schedules on pages 12 to 18 for reconciliations of
        Adjusted OIBDA to operating income as well as 2007 financial data to
        previously reported results from Discovery Holding Company.


    U.S. Networks
    (dollars in millions)  Three Months Ended    Twelve Months Ended
                             December 31,          December 31,
                        2008    2007   Change   2008    2007   Change
                            (As adjusted)           (As adjusted)
    Revenues:
       Distribution     $236    $209    13%     $927    $840    10%
       Advertising       282     265     6%    1,058     975     9%
       Other              18      24   (25%)      77      64    20%
    Total Revenues      $536    $498     8%   $2,062  $1,879    10%

    Adjusted OIBDA      $300    $112   168%   $1,111    $810    37%

    Adjusted OIBDA
     Margin               56%     22%           54%       43%

Fourth Quarter Results

U.S. Networks' revenue in the fourth quarter of 2008 increased 8% to $536 million primarily driven by distribution and advertising revenue growth. Distribution revenue grew 13% largely from higher rates across the fully distributed networks, subscriber growth at the emerging networks and lower launch-support amortization. Advertising revenue increased 6% from higher pricing as well as increased ratings at Discovery Channel and TLC, which satisfied prior period ratings shortfalls.

Adjusted OIBDA increased $188 million to $300 million reflecting the 8% revenue growth and lower operating expenses, primarily due to the impairment charge of $129 million taken in the fourth quarter a year ago, which also resulted in a $19 million decline in content amortization expense in the current quarter as compared to prior year. Excluding the impact of the impairment charge taken a year ago, programming expense increased $16 million and Adjusted OIBDA grew $40 million or 17%.

Full Year Results

U.S. Networks' revenue for the full year 2008 increased 10% to $2,062 million mainly driven by distribution and advertising revenue growth. Distribution revenue grew 10% largely from higher rates across the fully distributed networks, subscriber growth at the emerging networks and lower launch-support amortization. 2008 distribution revenues also include $8 million of one-time revenue related to accruals in prior periods for certain distributors. Advertising revenue increased 9% as compared with 2007 as a result of pricing and higher sellouts, partially offset by lower ratings at TLC and Discovery Channel. Additionally, other revenue grew 20% reflecting Discovery's sales representation of Travel Channel and an increase in digital revenue, primarily from the inclusion of HowStuffWorks, which was acquired in December 2007.

Adjusted OIBDA increased 37% to $1,111 million reflecting the 10% revenue growth and 12% lower operating expenses, primarily due to the content impairment charge of $129 million taken in the fourth quarter of 2007, which also resulted in a $76 million decline in content amortization expense in the current year as compared to the prior year. Excluding the impact of the impairment charge taken a year ago, programming expense increased $49 million and Adjusted OIBDA grew $96 million or 10%. Full year results also include a content impairment charge of $17 million related to the management team reorganization at TLC during the third quarter of 2008.

    International Networks

    (dollars in millions)   Three Months Ended      Twelve Months Ended
                               December 31,             December 31,
                           2008    2007   Change   2008     2007   Change
                               (As adjusted)           (As adjusted)
    Revenues:
       Distribution        $165    $168    (2%)     $713    $615    16%
       Advertising           99     112   (12%)      336     330     2%
       Other                 30      27    11%       109      85    28%
    Total Revenues         $294    $307    (4%)   $1,158  $1,030    12%

    Adjusted OIBDA         $107     $81    32%      $387    $254    52%

    Adjusted OIBDA Margin    36%     26%              33%     25%

Fourth Quarter Results

International Networks' revenue for the fourth quarter decreased 4% to $294 million as the $33 million impact of foreign currency fluctuations resulted in a 2% decline in distribution revenue and a 12% decline in advertising revenue. Excluding the impact of foreign currency fluctuations, revenues increased 6% led by 8% affiliate revenue growth, primarily from subscriber increases in EMEA (Europe (excluding U.K.), Middle East and Africa) and Latin America. Advertising revenue in local currency terms was flat as strong growth in EMEA and Latin America was offset by lower advertising revenue in the U.K. due to lower rates as well as the interpretation of a contract provision resulting in a limitation in our ability to monetize our audience. Excluding the U.K., advertising revenue in local currency terms increased 14% over the fourth quarter a year ago at International Networks.

Adjusted OIBDA increased 32% to $107 million as the 4% revenue decline was more than offset by an 18% decline in operating expenses. Excluding the impact of foreign currency, Adjusted OIBDA increased 36% reflecting 6% revenue growth and a 4% decline in operating expenses as increased programming expenses were more than offset by lower marketing and research costs.

Full Year Results

International Networks' revenue for the full year 2008 increased 12% to $1,158 million led by 16% distribution revenue growth primarily from subscriber increases in EMEA (Europe (excluding U.K.), Middle East and Africa) and Latin America. Advertising revenue increased 2% as strong growth in EMEA and Latin America was offset by lower advertising revenue in the U.K. due to lower rates as well as an interpretation of a contract provision. Excluding the U.K., advertising revenue in local currency terms increased 22% over 2008 at International Networks. The full year also included 28% growth in other revenue driven by the sale of Discovery Networks programs in the U.K. and Canada.

Adjusted OIBDA increased 52% to $387 million reflecting the 12% revenue growth and a 1% decline in operating expenses as lower marketing and research costs were mostly offset by increased programming and personnel costs. Excluding foreign currency fluctuations, revenues increased 12% and Adjusted OIBDA increased 45% versus 2007. The full year impact of foreign currency increased revenues by $7 million and Adjusted OIBDA by $17 million.

    Commerce, Education, and Other

    (dollars in millions)    Three Months Ended     Twelve Months Ended
                                December 31,           December 31,
                           2008    2007    Change  2008    2007    Change
                                (As adjusted)           (As adjusted)
    Revenues                $70     $91    (23%)   $196    $225      (13%)
    Adjusted OIBDA          $11      $-      -      $13      $4      225%

    Adjusted OIBDA Margin    16%      -%              7%      2%

Fourth Quarter Results

Commerce, Education and Other fourth quarter revenue decreased 23% to $70 million primarily reflecting lower commerce revenues as compared to the same period a year ago, which included stronger DVD sales of Planet Earth. Adjusted OIBDA increased to $11 million as compared with the break even results in the fourth quarter a year ago as the revenue decline at commerce was mostly offset by lower operating costs as compared to prior year. Additionally, prior year results included an impairment charge of $10 million at education. The current quarter results also include revenues of $20 million and Adjusted OIBDA of $1 million for Creative Sound Services which was flat with the results a year ago.

Full Year Results

Commerce, Education and Other full year 2008 revenue decreased 13% to $196 million primarily reflecting lower commerce revenues as compared to the same period a year ago, which included stronger DVD sales of Planet Earth, partially offset by higher education revenues from the streaming of new products as well as assessment, sponsorship and licensing deals. Adjusted OIBDA increased $9 million to $13 million as the revenue decline was offset by lower operating costs, primarily at education, due to an impairment charge of $10 million in the prior year,. The current year results include revenues of $75 million and Adjusted OIBDA of $4 million for Creative Sound Services, which was flat with the results a year ago.

Corporate

For the full year 2008 Adjusted OIBDA decreased $12 million as a result of an increase in Corporate expenses, primarily due to costs associated with the transaction described in Other Items as well as costs related to the OWN joint venture.

OTHER ITEMS

In September 2008, Discovery Holding Company, Inc. ("DHC") and Advance/Newhouse Programming Partnership ("Advance/Newhouse") closed a transaction that included the combination of DHC's approximate 67% interest in Discovery Communications Holding, LLC ("DCH") with Advance/Newhouse's approximate 33% interest in DCH. In connection with the transaction, DHC spun-off its interests in Ascent Media Corporation except for certain businesses that provide sound-related services, which remain with Discovery. As a result of the transaction, DHC ceased to be a reporting company and Discovery became the successor reporting entity to DHC. The attached consolidated statements of operations, consolidated balance sheets and consolidated statements of cash flows assume the above transaction occurred as of January 1, 2008, in accordance with generally accepted accounting principles (GAAP). The prior year results included in the attached financial statements reflect the previously reported results of DHC, which accounted for its interest in DCH in equity in earnings of unconsolidated affiliates. Additionally, the results of Ascent Media Corporation with the exception of the Creative Sound Services business have been treated as discontinued operations for 2008 and 2007. See our Form 10-K filed with the Securities and Exchange Commission on February 25, 2009 for a more detailed description of the transaction and for further explanation of the financial statement presentation. See the supplemental financial schedules beginning on page 14 for a reconciliation of DHC's previously reported results to as adjusted financial statements for 2007.

FULL YEAR 2009 OUTLOOK

For the full year ended December 31, 2009, Discovery Communications expects total revenue between $3,375 million and $3,500 million, Adjusted OIBDA between $1,300 million and $1,400 million and net income from continuing operations of $475 million to $575 million. Our outlook incorporates current foreign exchange rates for revenues and expenses and current share price for marked to market equity based compensation calculations while excluding the impact of OWN. It is expected that $70 to $80 million will be invested in OWN in 2009 but the income statement impact will depend on the timing of the launch.

NON-GAAP FINANCIAL MEASURES

Adjusted OIBDA and Free Cash Flow

In addition to the results prepared in accordance with GAAP provided in this release, the Company has presented Adjusted OIBDA and free cash flow. The Company defines Adjusted OIBDA as revenue less (i) cost of revenues and selling, general and administrative expense excluding marked to market share-based compensation expense under our long-term incentive plans, (ii) restructuring and impairment charges, (iii) amortization of deferred launch incentives, and (iv) gain on asset and business dispositions. The Company excludes share-based compensation under long-term incentive plans due to its significant volatility from being marked-to-market. The Company excludes the amortization of deferred launch incentive payments because these payments are infrequent and the amortization does not represent cash payments in the current reporting period. In addition to these items, Adjusted OIBDA also excludes depreciation and amortization, restructuring and impairment charges that are included in the measurement of operating income pursuant to GAAP. Management uses Adjusted OIBDA to assess the operational strength and performance of its operating segments, as well as the Company as a whole, and to view operating results, perform analytical comparisons, identify strategies to improve performance and allocate resources to each operating segment. The Company believes Adjusted OIBDA is an important measure to investors because it allows them to analyze operating performance of each business and the Company overall using the same metric management uses and provides investors a measure to analyze operating performance of each business division and the Company overall against historical data.

The Company defines free cash flow as cash provided by operations less acquisitions of property and equipment. The Company uses free cash flow as it believes it is an important indicator for management and investors of the Company's liquidity, including its ability to reduce debt, make strategic investments and return capital to shareholders.

Since Adjusted OIBDA and free cash flow are non-GAAP measures, they should be considered in addition to, but not as a substitute for, operating income, net income, cash flow provided by operating activities and other measures of financial performance reported in accordance with GAAP. Please review the supplemental financial schedules beginning on page 11 for reconciliations to GAAP measures.

2007 Results

See page 14 for an explanation of how as adjusted results for 2007 have been calculated and why management believes this presentation would be meaningful to investors.

Travel Channel

The Company presents 2007 results without the Travel Channel, which was exchanged on May 14, 2007. See our Form 10-K filed with the Securities and Exchange Commission on February 25, 2009 for a more detailed description of this transaction. Management believes this presentation is useful to investors because it allows them to analyze operating performance of the U.S. Networks and total company against comparable historical data. See page 11 for reconciliation to results including Travel Channel.

Conference Call Information

Discovery Communications will host a conference call today at 8:30 a.m. EST to discuss its full year and fourth quarter 2008 results. To listen to the call, visit http://www.discoverycommunications.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. These statements are based on information available to the Company as of the date hereof, and the Company's actual results could differ materially from those stated or implied, due to risks and uncertainties associated with its business, which include the risk factors disclosed in its Annual Report on Form 10-K filed with the SEC on February 25, 2009. Forward-looking statements include statements regarding the Company's expectations, beliefs, intentions or strategies regarding the future, and can be identified by forward-looking words such as "anticipate," "believe," "could,", "continue," "estimate," "expect," "intend," "may," "should," "will" and "would" or similar words. Forward-looking statements in this release include, without limitation, the full year 2009 outlook. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

                         DISCOVERY COMMUNICATIONS, INC.
                     CONSOLIDATED STATEMENTS OF OPERATIONS
           (unaudited; amounts in millions, except per share amounts)

                                            Three Months       Twelve Months
                                                Ended              Ended
                                             December 31,       December 31,
                                           2008     2007(a)   2008    2007(a)
    Revenues:
      Distribution                         $401       $-    $1,640      $-
      Advertising                           382        -     1,396       -
      Other                                 121       17       407      76

    Total revenues                          904       17     3,443      76

    Operating costs and expenses:
      Cost of revenues, excluding
       depreciation and amortization
       listed below                         266       16     1,024      60
      Selling, general and
       administrative                       270        5     1,115      22
      Depreciation and
       amortization                          40        1       186       3
      Impairment of intangible
       assets                                30        -        30       -
      Exit and restructuring charges         14        -        31       -
      Gains on asset dispositions             -       (1)        -      (1)

    Total operating costs and expenses      620       21     2,386      84

    Operating income (loss)                 284       (4)    1,057      (8)

    Other (expense) income:
      Equity in (loss) earnings of
       Discovery Communications
       Holding, LLC                           -      (16)        -     142
      Equity in loss of
       unconsolidated affiliates            (59)       -       (61)      -
      Interest expense, net                 (60)       -      (256)      -
      Other, net                             16        2        14       8

    Total other (expense) income, net      (103)     (14)     (303)    150

    Income (loss) from
     continuing operations
     before income taxes and
     minority interests                     181      (18)      754     142

    (Provision for) benefit from
     income taxes                           (67)       6      (352)    (56)
    Minority interests, net of tax           (9)       -      (128)      -

    Income (loss) from
     continuing operations                  105      (12)      274      86

    Income (loss) from discontinued
     operations, net of tax                   1     (158)       43    (154)

    Net income (loss)                      $106    $(170)     $317    $(68)

    Income (loss) per share from
     continuing operations:
      Basic                               $0.25   $(0.04)    $0.85   $0.31
      Diluted                             $0.25   $(0.04)    $0.85   $0.31
    (Loss) income per share from
     discontinued operations:
      Basic                                  $-   $(0.56)    $0.13  $(0.55)
      Diluted                                $-   $(0.56)    $0.13  $(0.55)

    Net income (loss) per share:
      Basic                               $0.25   $(0.60)    $0.99  $(0.24)
      Diluted                             $0.25   $(0.60)    $0.98  $(0.24)

    Weighted average number of
     shares outstanding:
      Basic                                 422      281       321     281
      Diluted                               422      281       322     281

    (a) The 2007 results presented are on a GAAP basis and are those of our
        predecessor, Discovery Holding Company, which accounted for its
        investment in DCH using the equity method.  See page 15 for the as
        adjusted statement of operations for the three months ended December
        31, 2007 and page 16 for the as adjusted statement of operations for
        the twelve months ended December 31, 2007.



                          DISCOVERY COMMUNICATIONS, INC.
                           CONSOLIDATED BALANCE SHEETS
                         (unaudited; amounts in millions)

                                                          As of December 31,
    ASSETS                                                 2008      2007(a)
    Current assets:
      Cash and cash equivalents                            $100        $8
      Receivables, net                                      780        10
      Content rights, net                                    73         -
      Deferred income taxes                                  49         -
      Prepaid expenses and other current assets             107         2
      Assets of discontinued operations                       -       352
    Total current assets                                  1,109       372

    Investment in Discovery Communications Holding, LLC       -     3,272
    Noncurrent content rights, net                        1,163         -
    Property and equipment, net                             395         5
    Goodwill                                              6,891     1,782
    Intangible assets, net                                  716         1
    Other noncurrent assets                                 210         -
    Assets of discontinued operations                         -       434
    Total assets                                        $10,484    $5,866

    LIABILITIES, REDEEMABLE INTERESTS
     IN SUBSIDIARIES, AND STOCKHOLDERS' EQUITY

    Current liabilities:
      Accounts payable                                      $71       $1
      Accrued liabilities                                   350        5
      Deferred revenues                                      93        -
      Current portion of long-term
       incentive plan liability                               8        -
      Current portion of long-term
       debt                                                 458        -
      Other current liabilities                              90        2
      Liabilities of discontinued
       operations                                             -      112
    Total current liabilities                             1,070      120

    Long-term incentive plan
     liability                                               15        -
    Long-term debt                                        3,331        -
    Deferred income taxes                                   246    1,227
    Other noncurrent liabilities                            237        1
    Liabilities of discontinued
     operations                                               -       23
    Total liabilities                                     4,899    1,371

    Commitments and contingencies                             -        -
    Redeemable interests in
     subsidiaries                                            49        -

    Stockholders' equity:
      Preferred stock                                         2        -
      Common stock                                            3        3
      Additional paid-in capital                          6,545    5,728
      Accumulated deficit                                  (936)  (1,253)
      Accumulated other
       comprehensive (loss) income                          (78)      17

    Total stockholders' equity                            5,536    4,495
    Total liabilities, redeemable
     interests in subsidiaries,
     and stockholders' equity                           $10,484   $5,866

    (a) The 2007 results presented are on a GAAP basis and are those of our
        predecessor, Discovery Holding Company, which accounted for its
        investment in DCH using the equity method.  See page 17 for the
        December 31, 2007 as adjusted balance sheets.



                            DISCOVERY COMMUNICATIONS, INC.
                         CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (unaudited; amounts in millions)

                                                          Twelve Months Ended
                                                               December 31,
                                                            2008      2007(a)
     Operating activities
      Net income (loss)                                     $317      $(68)
      Adjustments to reconcile net income (loss) to cash
       provided by operating activities:
      Share-based compensation (benefit) expense             (66)        1
      Depreciation and amortization                          232        68
      Impairment of goodwill                                   -       165
      Impairment of intangible assets                         30         -
      Gains on asset dispositions                            (76)       (1)
      Equity in earnings of Discovery Communications
       Holding, LLC                                            -      (142)
      Equity in loss of unconsolidated affiliates             61         -
    Deferred income taxes                                    190        56
      Minority interests, net of tax                         128         -
      Other non cash expenses (income), net                   69        (8)
     Changes in operating assets and liabilities, net of
      discontinued operations:
      Receivables, net                                       (45)        4
      Content rights, net                                   (145)        -
      Accounts payable and accrued liabilities               (46)      (11)
      Other, net                                             (80)       (6)
    Cash provided by operating activities                    569        58

    Investing activities
    Purchases of property and equipment                     (102)      (47)
    Proceeds from business and asset dispositions            139         2
    Net cash acquired from Newhouse Transaction               45         -
    Business acquisitions, net of cash acquired               (8)        -
    Proceeds from sale of securities                          24        28
    Other investing activities, net                            -         2
    Cash provided by (used in) investing activities           98       (15)

    Financing activities
    Ascent Media Corporation spin-off                       (356)        -
    Net repayments of revolver loans                        (125)        -
    Principal repayments of long-term debt                  (257)        -
    Principal repayments of capital lease obligations        (29)        -
    Net cash from stock option exercises                       -        13
    Other financing activities, net                           (7)       (1)

     Cash (used in) provided by financing activities        (774)       12

    Effect of exchange rate changes on cash and cash
     equivalents                                              (2)        -

    Change in cash and cash equivalents                     (109)       55
     Cash and cash equivalents of continuing operations,
      beginning of period                                      8         1
     Cash and cash equivalents of discontinued operations,
      beginning of period                                    201       153
     Cash and cash equivalents, end of period               $100      $209

    (a) The 2007 results presented are on a GAAP basis and are those of our
        predecessor, Discovery Holding Company, which accounted for its
        investment in DCH using the equity method.  See page 18 for the
        twelve months ended December 31, 2007 as adjusted statement of cash
        flows.



                          DISCOVERY COMMUNICATIONS, INC.
                           SUPPLEMENTAL FINANCIAL DATA
                     RECONCILIATION OF TRAVEL CHANNEL RESULTS
                         (unaudited; amounts in millions)

                               Twelve Months Ended December 31, 2007(a)
                  U.S. Networks Excluding   Travel   U.S. Networks Including
                       Travel Channel       Channel       Travel Channel
    Revenues:
       Distribution         $840              $22              $862
       Advertising           975               40             1,015
       Other                  64                -                64
    Total Revenues        $1,879              $62            $1,941

    Adjusted OIBDA          $810              $20              $830


                               Twelve Months Ended December 31, 2007(a)
                  Total Company Excluding   Travel   Total Company Including
                      Travel Channel        Channel      Travel Channel
    Revenues:
       Distribution        $1,455             $22            $1,477
       Advertising          1,305              40             1,345
       Other                  381               -               381
    Total Revenues         $3,141             $62            $3,203

    Adjusted OIBDA           $879             $20              $899


    (a) The 2007 results presented are as adjusted.  See page 14 for an
        explanation of how these results have been calculated and why
        management believes this presentation would be meaningful to
        investors.



                          DISCOVERY COMMUNICATIONS, INC.
                           SUPPLEMENTAL FINANCIAL DATA
                RECONCILIATION OF ADJUSTED OPERATING INCOME BEFORE
                          DEPRECIATION AND AMORTIZATION
                         (unaudited; amounts in millions)

                              Three Months Ended December 31, 2008
             Adjusted
             Operating                             Marked
              Income                                 to
              Before                 Amortization  Market
           Depreciation Depreciation   of Cable    Share-
               and          and      Distribution   Based    Other Operating
           Amortization Amortization Investments Compensation (b)    Income

    U.S.
     Networks   $300       $(16)         $(8)       $(4)     $(38)    $234
    Inter-
     national
     Networks    107        (11)          (8)         -        (2)      86
    Commerce,
     Education,
     and Other    11         (2)           -          -        (2)       7
    Corporate    (56)       (11)           -         26        (2)     (43)
      Total     $362       $(40)        $(16)       $22      $(44)    $284


                              Three Months Ended December 31, 2007(a)
             Adjusted
             Operating                             Marked
              Income                                 to
              Before                 Amortization  Market
           Depreciation Depreciation   of Cable    Share-
               and          and      Distribution   Based    Other Operating
           Amortization Amortization Investments Compensation (c)    Income

    U.S.
     Networks   $112        $(9)        $(14)        $-        $-      $89
    Inter-
     national
     Networks     81        (10)         (11)         -        (2)      58
    Commerce,
     Education,
     and Other     -         (4)           -          -        (1)      (5)
    Corporate    (53)       (14)           -        (11)        -      (78)
      Total     $140       $(37)        $(25)      $(11)      $(3)     $64

    (a) The 2007 results presented are as adjusted and include Travel Channel
        results.  See page 14 for an explanation of how these results have
        been calculated and why management believes this presentation would
        be meaningful to investors.
    (b) For the three months ended December 31, 2008, Other includes write-
        offs of intangible assets and costs related to employee terminations
        and relocation.
    (c) For the three months ended December 31, 2007, Other includes costs
        related to employee terminations due to a number of organizational
        and strategic adjustments.



                          DISCOVERY COMMUNICATIONS, INC.
                           SUPPLEMENTAL FINANCIAL DATA
                 RECONCILIATION OF ADJUSTED OPERATING INCOME BEFORE
                          DEPRECIATION AND AMORTIZATION
                        (unaudited; amounts in millions)

                                  Twelve Months Ended December 31, 2008
             Adjusted
             Operating                             Marked
              Income                                 to
              Before                 Amortization  Market
           Depreciation Depreciation   of Cable    Share-
               and          and      Distribution   Based    Other Operating
           Amortization Amortization Investments Compensation (b)    Income

    U.S.
     Networks  $1,111      $(56)        $(34)       $(4)      (51)    $966
    Inter-
     national
     Networks     387       (43)         (41)         -        (2)     301
    Commerce,
     Education,
     and Other     13        (9)           -          -        (6)      (2)
    Corporate    (201)      (78)           -         73        (2)    (208)
      Total    $1,310     $(186)        $(75)       $69       (61)  $1,057


                                   Twelve Months Ended December 31, 2007(a)
             Adjusted
             Operating                             Marked
              Income                                 to
              Before                 Amortization  Market
           Depreciation Depreciation   of Cable    Share-
               and          and      Distribution   Based    Other Operating
           Amortization Amortization Investments Compensation (c)    Income
    U.S.
     Networks   $830       $(28)        $(56)        $-        $-     $746
    Inter-
     national
     Networks    254        (36)         (44)         -        (2)     172
    Commerce,
     Education,
     and Other     4        (17)           -          -       (27)     (40)
    Corporate   (189)       (53)           -       (141)      119     (264)
       Total    $899      $(134)       $(100)     $(141)      $90     $614

    (a) The 2007 results presented are as adjusted and include Travel Channel
        results.  See page 14 for an explanation of how these results have
        been calculated and why management believes this presentation would
        be meaningful to investors.
    (b) For the twelve months ended December 31, 2008, Other at U.S. Networks
        includes write-offs of intangible assets as well as costs related to
        employee relocation and termination of a production agreement.
        Commerce, Education, and Other includes costs related to closure of
        Commerce's distribution center and stores headquarter offices.
    (c) For the twelve months ended December 31, 2007, Other at Commerce,
        Education, and Other includes write-offs of intangible assets.
        Corporate represents a gain on the disposition of a business offset
        by costs related to employee terminations due to a number of
        organizational and strategic adjustments.

DISCOVERY COMMUNICATIONS, INC.

SUPPLEMENTAL FINANCIAL DATA

AS ADJUSTED FINANCIAL RESULTS

(unaudited; amounts in millions)

The following as adjusted financial statements assume the transactions between DHC, DCH and Advance/Newhouse were completed as of January 1, 2007. The as adjusted results do not purport to be indicative of the results that would have been obtained if these events had been completed by January 1, 2007. See our Form 10-K filed with the Securities and Exchange Commission on February 25, 2009 for a more detailed description of the transaction and for further explanation of the financial statement presentation.

The as adjusted financial statements for 2007 have not been prepared in accordance with GAAP. Management believes that this presentation is meaningful to investors, because it presents the results of Discovery, the reporting successor to DHC. Discovery will be the reporting entity going forward and a comparison of DHC's results for 2007 to Discovery's results for 2008 would not provide investors with meaningful information regarding changes in financial performance of Discovery from 2007 to 2008.

The information in the DHC historical and DCH historical columns in the following as adjusted financial statements is derived from the historical financial statements of DHC and Discovery Communications, Holding, LLC, respectively. Certain reclassifications, with no impact to operating income, have been made to the 2007 financial information to conform to the 2008 presentation.

                          DISCOVERY COMMUNICATIONS, INC.
              RECONCILIATION OF DISCOVERY HOLDING COMPANY HISTORICAL
                        TO DISCOVERY COMMUNICATIONS, INC.
            (unaudited; amounts in millions, except per share amounts)

                                      Three Months Ended December 31, 2007
                                                           Less:
                                                  Add:    Minority  Discovery
                                    DHC           DCH     Interest     As
                                Historical(a) Historical Adjustment Adjusted
    Revenues:
      Distribution                        $-      $377     $-       $377
      Advertising                          -       377      -        377
      Other                               17       132      -        149
    Total revenues                        17       886      -        903

    Operating costs and expenses:
      Cost of revenues, excluding
       depreciation and
       amortization listed below          16       431      -        447
      Selling, general and
        administrative                     5       347      -        352
      Depreciation and amortization        1        36      -         37
      Exit and restructuring charges       -         4      -          4
      Gains on asset dispositions         (1)        -      -         (1)
    Total operating costs and expenses    21       818      -        839

    Operating (loss) income               (4)       68      -         64
    Other (expense) income:
      Equity in loss of Discovery
       Communications
       Holding, LLC                      (16)        -     16 (b)      -
      Equity in earnings of
       unconsolidated affiliates           -         3      -          3
      Interest expense, net                -       (70)     -        (70)
      Other, net                           2       (12)     -        (10)
    Total other expense, net             (14)      (79)    16        (77)

    Loss from continuing operations
     before income taxes and minority
     interests                           (18)      (11)    16        (13)

    Benefit from (provision for)
     income taxes                          6        (3)     -          3
    Minority interests, net of tax         -        (6)     8 (c)      2

    Loss from continuing operations      (12)      (20)    24         (8)

    Loss from discontinued operations   (158)       (4)     -       (162)

    Net loss                           $(170)     $(24)   $24      $(170)

    Loss per share from continuing
     operations, basic and diluted    $(0.04)                     $(0.03)
    Loss per share from discontinued
     operations, basic and diluted    $(0.56)                     $(0.58)
    Net loss per share, basic and
     diluted                          $(0.60)                     $(0.61)
    Weighted average number of shares
     outstanding, basic and diluted
                                         281                         281

    (a) DHC results of operations include DHC corporate costs and the
        results of Creative Sound Services, with the results of Ascent
        Media Corporation recorded as discontinued operations.
    (b) Represents the elimination of DHC's historical share of earnings
        of DCH for the three months ended December 31, 2007.
    (c) Represents the minority interest expense for the proportion of
        DCH's historical share of earnings not recognized by DHC for the
        three months ended December 31, 2007.



                        DISCOVERY COMMUNICATIONS, INC.
             RECONCILIATION OF DISCOVERY HOLDING COMPANY HISTORICAL
                      TO DISCOVERY COMMUNICATIONS, INC.
           (unaudited; amounts in millions, except per share amounts)

                                    Twelve Months Ended December 31, 2007

                                                           Less:
                                                  Add:    Minority  Discovery
                                    DHC           DCH     Interest     As
                                Historical(a) Historical Adjustment Adjusted
    Revenues:
      Distribution                     $-        $1,477      $-     $1,477
      Advertising                       -         1,345       -      1,345
      Other                            76           305       -        381
    Total revenues                     76         3,127       -      3,203

    Operating costs and expenses:
      Cost of revenues, excluding      60         1,167       -      1,227
      depreciation and amortization
      listed below
      Selling, general and             22         1,296       -      1,318
      administrative
      Depreciation and amortization     3           131       -        134
      Asset impairment                  -            26       -         26
      Exit and restructuring charges    -            20       -         20
      Gains on asset and business
      dispositions                     (1)         (135)      -       (136)
    Total operating costs and
     expenses                          84         2,505       -      2,589

    Operating (loss) income            (8)          622       -        614

    Other income (expense):
      Equity in earnings of Discovery
       Communications Holding, LLC    142             -    (142)(b)      -
      Equity in earnings of
       unconsolidated affiliates        -             9       -          9
      Interest expense, net             -          (249)      -       (249)
      Other, net                        8           (10)      -         (2)

    Total other income (expense),
     net                              150          (250)   (142)      (242)

    Income from continuing
     operations before income
     taxes and minority interests     142           372    (142)       372

    Provision for income taxes        (56)          (77)      -       (133)
    Minority interests, net of tax      -            (8)    (80)(c)    (88)

    Income from continuing operations  86           287    (222)       151

    Loss from discontinued operations,
     net of tax                      (154)          (65)      -       (219)

    Net (loss) income                $(68)         $222   $(222)      $(68)

    Income per share from
     continuing operations,
     basic and diluted              $0.31                            $0.54
    Loss per share from
     discontinued operations,
     basic and diluted             $(0.55)                          $(0.78)
    Net loss per share,
     basic and diluted             $(0.24)                          $(0.24)
    Weighted average number of
     shares outstanding, basic
     and diluted                      281                              281


    (a) DHC results of operations include DHC corporate cost and the
        results of Creative Sound Services, while the results of Ascent
        Media Corporation are included in net loss from discontinued
        operations.
    (b) Represents the elimination of DHC's historical share of earnings
        of DCH for the twelve months ended December 31, 2007.
    (c) Represents the minority interest expense for the proportion of DCH's
        historical share of earnings not recognized by DHC for the twelve
        months ended December 31, 2007.

                       DISCOVERY COMMUNICATIONS, INC.
           RECONCILIATION OF DISCOVERY HOLDING COMPANY HISTORICAL
                      TO DISCOVERY COMMUNICATIONS, INC.
                     (unaudited; amounts in millions)


                                          As of December 31, 2007
                                            Add:     Less: Other
                                 DHC        DCH      Adjustments   Discovery,
                              Historical Historical      (a)      As adjusted
    ASSETS
    Current assets:
      Cash and cash
       equivalents                  $8        $45         $-             $53
      Receivables, net              10        742          -             752
      Content rights, net            -         79          -              79
      Deferred income taxes          -        104          -             104
      Prepaid expenses and
       other current assets          2        107          -             109
      Assets of discontinued
       operations                  352          -       (352)              -
    Total current assets           372      1,077       (352)          1,097

    Investment in Discovery
     Communications Holding,
     LLC                         3,272           -     (3,272)             -
    Investments                      -         101         -             101
    Noncurrent content rights,
     net                             -       1,048        46           1,094
    Property and equipment, net      5         397         -             402
    Goodwill                     1,782       4,870       475           7,127
    Intangible assets, net           1         182       277             460
    Other noncurrent assets          -         285         -             285
    Assets of discontinued
     operations                    434           -      (434)              -
    Total assets                $5,866      $7,960   $(3,260)        $10,566

    LIABILITIES, REDEEMABLE
     INTERESTS IN SUBSIDIARIES,
     AND STOCKHOLDERS' EQUITY
    Current liabilities:
      Accounts payable              $1         $98        $-             $99
      Accrued liabilities            5         435         -             440
      Deferred revenues              -          78         -              78
      Current portion of
       long-term incentive
       plan liability                -         141         -             141
      Current portion of
       long-term debt                -          32         -              32
      Other current liabilities      2          66       115             183
      Liabilities of discontinued
       operations                  112           -      (112)              -
    Total current liabilities      120         850         3             973

    Long-term debt                   -       4,109         -           4,109
    Deferred income taxes        1,227          11    (1,106)            132
    Other noncurrent
     liabilities                     1         233         -             234
    Liabilities of discontinued
     operations                     23           -       (23)              -
    Total liabilities            1,371       5,203    (1,126)          5,448

    Commitments and
     contingencies                   -           -         -               -
    Redeemable interests in
     subsidiaries                    -          49         -              49

    Stockholders' equity:
      Common stock                   3           -         -               3
      Members' equity                -       2,533    (2,533)              -
      Additional paid-in
       capital                   5,728           -       586           6,314
      Accumulated deficit       (1,253)        185      (185)         (1,253)
      Accumulated other
       comprehensive income
       (loss)                       17         (10)       (2)              5
    Total stockholders'
     equity                      4,495       2,708    (2,134)          5,069
    Total liabilities,
     redeemable interests in
     subsidiaries, and
     stockholders' equity       $5,866      $7,960   $(3,260)        $10,566


    (a) Represents elimination of Ascent Media Corporation, excluding
        Creative Sound Services, as well as DHC's historical investment
        in DCH.



                           DISCOVERY COMMUNICATIONS, INC.
                RECONCILIATION OF DISCOVERY HOLDING COMPANY HISTORICAL
                          TO DISCOVERY COMMUNICATIONS, INC.
                           (unaudited; amounts in millions)

                                      Twelve Months Ended December 31, 2007
                                   DHC As                        Discovery
                                  reported             DCH      As adjusted
     Operating activities
     Net loss                       $(68)               $-           $(68)
     Adjustments to reconcile
      net loss to
      cash provided by
      operating activities           139               459            598
     Changes in operating
      assets and liabilities,
      net of discontinued
      operations                     (13)             (217)          (230)
     Cash provided by
      operating activities            58               242            300

    Investing activities
     Purchases of property and
      equipment                      (47)              (81)          (128)
     Proceeds from asset
      dispositions                     2                 -              2
     Business acquisitions,
      net of cash acquired             -              (306)          (306)
     Proceeds from sale of
      securities                      28                 -             28
     Other investing
      activities, net                  2               (44)           (42)
     Cash used in investing
      activities                     (15)             (431)          (446)

     Financing activities
     Borrowings from long-term
      debt                             -             1,500          1,500
     Net repayments of revolver
      loans                            -                (2)            (2)
     Principal repayments of
      long-term debt                   -                (8)            (8)
     Principal repayments of
      capital lease
      obligations                      -                (6)            (6)
     Repurchase of members'
      interests                        -            (1,285)        (1,285)
     Net cash from stock
      option exercises                13                 -             13
     Other financing
      activities, net                 (1)              (24)           (25)
     Cash provided by
      financing activities            12               175            187

    Effect of exchange rate
     changes on cash and cash
     equivalents                       -                 7              7

     Change in cash and cash
      equivalents                     55                (7)            48
     Cash and cash equivalents
      of discontinued
      operations, beginning of
      period                         153                 -            153
     Cash and cash equivalents
      of continuing
      operations, beginning of
      period                           1                52             53
     Adjustment to remove AMC
      cash                          (201)                -           (201)
     Cash and cash
      equivalents, end of
      period                          $8               $45            $53




                           DISCOVERY COMMUNICATIONS, INC.
                            SUPPLEMENTAL FINANCIAL DATA
                         (unaudited; amounts in millions)

    CALCULATION OF FREE CASH FLOW

                                 Three Months Ended      Twelve Months Ended
                                     December 31,           December 31,
                                 2008  2007(a)  Change  2008  2007(a)  Change
    Cash provided by
     Operating activities        $146    $141       $5  $569    $300     $269
    Acquisition of property
     and equipment                (18)    (37)      19  (102)   (128)      26
    Free cash flow               $128    $104      $24  $467    $172     $295


    (a) The 2007 results presented are as adjusted.  See page 14 for an
        explanation of how these results have been calculated and why
        management believes this presentation would be meaningful to
        investors.


    RECONCILIATION OF 2009 OUTLOOK TO GAAP MEASURES

                                                           Full Year 2009
    Net income from continuing operation              $475     To       $575
    Interest, net                                      260     To        230
    Depreciation and amortization                      175     To        170
     Other, including amortization of cable
      distribution investments, marked to market
      equity based compensation, restructuring
      costs, equity earnings in unconsolidated
      affiliates, unrealized and realized gains and
      losses from derivatives, income tax expense,
      minority interests in consolidated
      subsidiaries                                     390     To        425
    Adjusted OIBDA                                  $1,300     To     $1,400



                     DISCOVERY COMMUNICATIONS, INC.
                      SUPPLEMENTAL FINANCIAL DATA
                       SELECTED FINANCIAL DETAIL
                   (unaudited; amounts in millions)


    BORROWINGS
                                                                 As of
                                                           December 31, 2008

    $1.0 billion Term Loan A, due quarterly to October 2010             $938
    $1.6 billion Revolving Loan, due October 2010                        315
    $1.5 billion Term Loan B, due quarterly September
     2007 to May 2014                                                  1,478
    7.45% Senior Notes, semi-annual interest, due
     September 2009                                                       55
    8.37% Senior Notes, semi-annual interest, due
     March 2011                                                          220
    8.13% Senior Notes, semi-annual interest, due
     September 2012                                                      235
    Floating Rate Senior Notes (3.3% at December 31, 2008), semi-annual
    interest,
     Due December 2012                                                    90
    6.01% Senior Notes, semi-annual interest, due
     December 2015                                                       390
    Obligations under capital leases                                      67
    Other notes payable                                                    1
    Subtotal                                                           3,789
    Current portion                                                     (458)
    Total long-term debt                                               3,331
    Cash and cash equivalents                                            100
    Net debt                                                          $3,231


    SHARE-BASED COMPENSATION
                                               As of January 31, 2009
                                  Total      Weighted     Vested      Weighted
                                  Units       Average     Units        Average
          Long-Term             Outstanding  Exercise  Outstanding    Exercise
       Incentive Plans         (in millions)   Price  (in millions)     Price

    Discovery appreciation plan        20      18.77         -              -

    Stock appreciation rights
      Vesting in March 2009             3      14.40         -              -
      Vesting in March 2010             3      14.40         -              -

    Stock options                      11      14.48         3          13.87
      Total share-based
       compensation plans              37      16.79         3          13.87

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