Discovery Completes Purchase of CBS Eye On People

Posted on December 30, 1998

Discovery Communications, Inc. and CBS Corporation have completed an agreement for Discovery's purchase of CBS Eye On People, a cable channel focused on people and personalities with 11 million cable and satellite subscribers.

According to the terms of the cash deal, Discovery owns 100% of the network, effective today. The new network will be called Discovery People and will be managed out of Discovery's offices in Bethesda. The new Discovery People name and logo are scheduled to debut on air January 11. Discovery plans to continue its focus on reality-based programming about people and personalities, produced by CBS News, Discovery and outside producers.

"We've decided to sell our entire stake in the channel and realize a financial gain. We believe this provides us with a good reward for starting the channel as well as gives Eye On People the focus and resources of a single owner," said Donald Mitzner, President, CBS Cable.

"The network's high quality, reality-based programming is a logical extension of Discovery's non-fiction networks," said Discovery Networks U.S. President Johnathan Rodgers. "While we expect the programming lineup to change over time, we still intend to air on Discovery People programs produced by CBS News, as well as Discovery's extensive library of people-oriented programs plus programs from other non-fiction producers."

Discovery Communications, Inc. (DCI) is a privately held, diversified media company headquartered in Bethesda, MD. Fueled by the world's largest original, non-fiction production engine, DCI operates four distinct business units including: -- Discovery Networks, TLC, Animal Planet, Travel Channel, Discovery Kids Channel, Discovery Science Channel, Discovery Home & Leisure Channel, Discovery Civilization Channel, Discovery Wings Channel, Discovery Health Channel and Discovery en Espanol. The unit also markets and distributes BBC America, which launched on March 29, 1998.