Shareholders Approve Discovery Deal

ENGLEWOOD, September 17:
At Discovery Holding Company’s (DHC) annual meeting, shareholders approved a
series of measures that will see Discovery Communications becoming a publicly
held company, owning 100 percent of Discovery and Animal Planet.

DHC will combine its stake
in Discovery Communications and Animal Planet with Advance/Newhouse Programming
Partnership's stake, and will spin off to shareholders the Ascent Media Group.
The transaction is expected to close after the close of the market today, with
Discovery expected to begin trading on the Nasdaq stock market tomorrow
(September 18).

—By Mansha Daswani