Discovery Inc has decided to take “a bet on New Zealand” by buying the television arm of channel Three owner MediaWorks, Discovery’s Asia-Pacific president Simon Robinson says. Television channel Three owner MediaWorks announced on Monday that Discovery, the US owner of the Discovery Channel, would acquire its loss-making TV arm after a near year-long search for a buyer. Discovery is best known as the owner of lifestyle channels such as Discovery Channel, Animal Planet and Science Channel. MediaWorks TV business will be headed by Glen Kyne, MediaWorks’ former commercial head, in what Anderson said was a permanent appointment. Robinson said the pandemic had effected everyone’s business but did not change the fundamentals with regard to MediaWorks’ TV business and had “not given us pause”.

Source: Stuff September 06, 2020 21:32 UTC