Investment Summary

Warner Bros. Discovery and Paxson Communications Invest In The Travel Channel

On September 10, 1997, Warner Bros. Discovery and Paxson Communications invested in media company The Travel Channel from Paxson Communications for 20M USD

Investment Highlights
  • This is Warner Bros. Discovery’s 1st and Paxson Communications’ 2nd transaction in the Media sector.
  • This is Warner Bros. Discovery’s 6th and Paxson Communications’ 2nd largest (disclosed) transaction.
  • This is Warner Bros. Discovery’s 1st and Paxson Communications’ 2nd transaction in the United States.
  • This is Warner Bros. Discovery’s 1st and Paxson Communications’ 2nd transaction in Maryland.
Investment Fate
  • The Travel Channel was divested to a consortium of strategic buyers in 2007.
  • The Travel Channel was sold to a consortium of strategic buyers in 2009.
  • The Travel Channel was sold to a strategic buyer in 2016.

Investment Summary
Date 1997-09-10
Target The Travel Channel
Sector Media
Investor(s) Warner Bros. Discovery
Paxson Communications
Sellers(s) Paxson Communications
Deal Type Stake Purchase
Deal Value 20M USD

Target

The Travel Channel

Chevy Chase, Maryland, United States
website
The Travel Channel LLC is a travel media brand, and the network is available in nearly 96 million US cable homes. Its Travel Channel HD™ simulcast is distributed to almost 37 million viewers and is carried on every major provider. Travel Channel is headquartered in Chevy Chase, MD, and maintains offices in New York and Atlanta.

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Investor(S) 2

Investor

Warner Bros. Discovery

Silver Spring, Maryland, United States

website

Category Company
Founded 1985
Sector Media
Employees11,000
Revenue 12.2B USD (2021)
DESCRIPTION
Discovery Communications' corporate headquarters in Silver Spring, Maryland.
Discovery Communications' corporate headquarters in Silver Spring, Maryland.

Warner Bros. Discovery is a global media company that provides content across multiple distribution platforms, including pay-TV, free-to-air and broadcast television, websites, digital distribution arrangements and content licensing agreements. The Company's portfolio of networks includes television brands such as Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science and Velocity (known as Turbo outside of the U.S.). Discovery also operates a diversified portfolio of production studios, websites and curriculum-based education products and services. Warner Bros. Discovery was formed in 1985 and is based in Silver Spring, Maryland.

DEAL STATS #
Overall 1 of 17
Sector (Media) 1 of 11
Type (Stake Purchase) 1 of 3
State (Maryland) 1 of 1
Country (United States) 1 of 8
Year (1997) 1 of 1
Size (of disclosed) 6 of 7
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Antenna International

London, Connecticut, United Kingdom

Antenna International is a provider in the production and delivery of educational content for use in multimedia and mobile tours for museums, exhibitions, historic sites, and visitor attractions throughout the world. Antenna leverages its global reach to provide its top flight customers with superior content creation capabilities, a global perspective on tourist behavior and visitation trends, as well as the resources to deliver on-site service to enhance visitor experience. Antenna International was founded in 1984 and is based in London, United Kingdom.

Buy -
Investor

Paxson Communications

West Palm Beach, Florida, United States

website

Category Company
Founded 1991
Sector Communications
DESCRIPTION

Paxson Communications Corporation is a network television broadcasting company which owns and operates the largest broadcast television station group in the U.S., as measured by the number of television households in the markets our stations serve.

DEAL STATS #
Overall 2 of 2
Sector (Media) 2 of 2
Type (Stake Purchase) 1 of 1
State (Maryland) 2 of 2
Country (United States) 2 of 2
Year (1997) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-06-16 The Travel Channel

Chevy Chase, Maryland, United States

The Travel Channel LLC is a travel media brand, and the network is available in nearly 96 million US cable homes. Its Travel Channel HD™ simulcast is distributed to almost 37 million viewers and is carried on every major provider. Travel Channel is headquartered in Chevy Chase, MD, and maintains offices in New York and Atlanta.

Buy $75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-01 The Travel Channel

Chevy Chase, Maryland, United States

The Travel Channel LLC is a travel media brand, and the network is available in nearly 96 million US cable homes. Its Travel Channel HD™ simulcast is distributed to almost 37 million viewers and is carried on every major provider. Travel Channel is headquartered in Chevy Chase, MD, and maintains offices in New York and Atlanta.

Sell -

Seller(S) 1

SELLER

Paxson Communications

West Palm Beach, Florida, United States

website

Category Company
Founded 1991
Sector Communications
DESCRIPTION

Paxson Communications Corporation is a network television broadcasting company which owns and operates the largest broadcast television station group in the U.S., as measured by the number of television households in the markets our stations serve.

DEAL STATS #
Overall 1 of 2
Sector (Media) 1 of 2
Type (Stake Purchase) 1 of 1
State (Maryland) 1 of 2
Country (United States) 1 of 2
Year (1997) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-06-16 The Travel Channel

Chevy Chase, Maryland, United States

The Travel Channel LLC is a travel media brand, and the network is available in nearly 96 million US cable homes. Its Travel Channel HD™ simulcast is distributed to almost 37 million viewers and is carried on every major provider. Travel Channel is headquartered in Chevy Chase, MD, and maintains offices in New York and Atlanta.

Buy $75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-01 The Travel Channel

Chevy Chase, Maryland, United States

The Travel Channel LLC is a travel media brand, and the network is available in nearly 96 million US cable homes. Its Travel Channel HD™ simulcast is distributed to almost 37 million viewers and is carried on every major provider. Travel Channel is headquartered in Chevy Chase, MD, and maintains offices in New York and Atlanta.

Sell -
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