DISCA, BCOR: Discovery Sells HowStuffWorks at Huge Loss

It paid $250 million for the website in 2007

   

Seven years after it acquired HowStuffWorks, Discovery Communications (DISCA) has sold the website.

Discovery Communications 185A regulatory filing indicates that Blucora (BCOR) purchased HowStuffWorks — which offers information on everyday objects — from Discovery for $45 million. That would be 82% less than the $250 million that Discovery initially paid to acquire HowStuffWorks in 2007, Bloomberg notes

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Internet traffic statistics provider Alexa.com ranks HowStuffWorks as the 327th most visited U.S. website.

Under the all-cash deal, Discovery will maintain HowStuffWorks’ existing advertising services. Discovery operates a number of educational cable channels, including Animal Planet and TLC.

Discovery stock sank modestly in Monday morning trading, while BCOR shares rose almost 1%.


Article printed from InvestorPlace Media, http://investorplace.com/2014/04/disca-bcor-discovery-sells-howstuffworks-huge-loss/.

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