DISCA, BCOR: Discovery Sells HowStuffWorks at Huge Loss

It paid $250 million for the website in 2007

   

DISCA, BCOR: Discovery Sells HowStuffWorks at Huge Loss

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

Discovery Communications 185 DISCA, BCOR: Discovery Sells HowStuffWorks at Huge LossA 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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