SILVER SPRING, Md.,
May 16, 2019 /PRNewswire/
-- Discovery, Inc. ("Discovery" or the "Company") (Nasdaq:
DISCA, DISCB, DISCK) announced today that Discovery Communications,
LLC ("DCL") has commenced an underwritten public offering of senior
fixed rate notes. The notes will be issued by DCL and guaranteed by
the Company and its wholly owned subsidiary Scripps Networks
Interactive, Inc. ("Scripps").
The Company intends to use the net proceeds from the offering to
redeem all of DCL's outstanding 2.750% Senior Notes due
November 2019 and 5.050% Senior Notes
due June 2020, as well as Scripps'
outstanding 2.750% Senior Notes due November
2019 (collectively, the "Redeemed Notes"), and to pay
interest, premiums, fees and expenses in connection with those
redemptions. The Company intends to use any remaining proceeds for
general corporate purposes, which may include without limitation,
the acquisition of other companies or businesses, repayment and
refinancing of debt, working capital, capital expenditures and the
repurchase by Discovery of its capital stock.
Barclays Capital Inc., J.P. Morgan Securities LLC, BNP Paribas
Securities Corp, Mizuho Securities USA LLC and RBC Capital Markets, LLC will act
as the active joint book-running managers for the
offering.
The Company, DCL and Scripps have filed a registration statement
on Form S-3 (including a prospectus) with the Securities and
Exchange Commission (the "SEC") for this offering. Prospective
investors should read the prospectus forming a part of that
registration statement and the prospectus supplement related to the
offering and the other documents that Discovery has filed with the
SEC for more complete information about Discovery, DCL, Scripps and
this offering. These documents are available at no charge by
visiting EDGAR on the SEC website at www.sec.gov. Alternatively,
these documents will be made available upon request by DCL or by
any underwriter or dealer participating in the offering. Interested
parties may obtain a prospectus by contacting one of the joint
book-running managers at: Barclays Capital Inc. c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone:
1-888-603-5847, or by e-mailing Barclaysprospectus@broadridge.com;
J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment
Grade Syndicate Desk, 3rd floor, telephone collect: 212-834-4533;
BNP Paribas Securities Corp, 787 Seventh Avenue New York, NY Attention: Syndicate Desk 10019,
212-841-2871 or toll free 1-800-854-5674,
new.york.syndicate@bnpparibas.com; Mizuho Securities USA LLC, 320 Park Avenue, New York, NY 10022, 866-271-7403,
FIClearing@mizuhogroup.com; and RBC Capital Markets, LLC, Three
World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281, Attention: Syndicate
Operations, toll-free: (877) 822-4089, email:
syndicateops2@rbc.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the notes, nor shall there be any
offer, solicitation or sale of the notes, in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such jurisdiction. The offering may be made only by means of a
prospectus supplement and the accompanying prospectus. This press
release shall not constitute a notice of redemption with respect to
the Redeemed Notes.
About Discovery
Discovery is a global leader in real life entertainment, serving
a passionate audience of superfans around the world with content
that inspires, informs and entertains. Discovery delivers over
8,000 hours of original programming each year and has category
leadership across deeply loved content genres around the world.
Available in 220 countries and territories and in nearly 50
languages, Discovery is a platform innovator, reaching viewers on
all screens, including TV Everywhere products such as the GO
portfolio of apps; direct-to-consumer streaming services such as
Eurosport Player and MotorTrend OnDemand; digital-first and social
content from Group Nine Media; a landmark natural history and
factual content partnership with the BBC; and a strategic alliance
with PGA TOUR to create the international home of golf. Discovery's
portfolio of premium brands includes Discovery Channel, HGTV, Food
Network, TLC, Investigation Discovery, Travel Channel, MotorTrend,
Animal Planet, and Science Channel, as well as OWN: Oprah Winfrey
Network in the U.S., Discovery Kids in Latin America, and Eurosport, the leading
provider of locally relevant, premium sports and Home of the
Olympic Games across Europe.
Cautionary Statement Concerning Forward-looking
Statements
This press release contains certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 that are based on current expectations, forecasts and
assumptions that involve risks and uncertainties. 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 press release include, without
limitation, statements regarding the completion of, and use of
proceeds from, the offering. These statements are based on
information available to the Company as of the date hereof, and
actual results could differ materially from those stated or
implied, due to market conditions, as well as risks and
uncertainties associated with the Company's business, which include
the risk factors disclosed in the Company's Annual Report on Form
10-K filed with the SEC on March 1,
2019. The Company expressly disclaims any obligation or
undertaking to update or revise 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.
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SOURCE Discovery, Inc.