Discovery Holding Company announced a deal with Advance/Newhouse Programming Partnership to make Discovery Communications a fully publicly traded company. As it stands now, Discovery Holding Company is publicly traded, but owns only 66.66% of Discovery Communications, along with all of Ascent Media Group. The plan is to spin off Ascent to DHC’s stockholders, then combine DHC with a subsidiary of a new publicly traded Discovery Communications Inc., with preferred stock issued to Advance/Newhouse and common shares to former DHC shareholders. Discovery Communications Inc. will own 100% of Discovery and Animal Planet.
