The New York Times Co. ponied up $100 million for a 50 percent stake in
Discovery Networks U.S. digi-net Discovery Civilization.
Discovery will retain control and manage the channel, which it launched in
The Times Co., already a supplier of nonfiction programming, approached
Discovery about 10 months ago, looking to get a toehold in the cable
"Civilization fit best with subject matters The New York Times is known for, like contemporary history and current events," Discovery executive vice president of strategy and development Donald Baer said.
The Times name may eventually be worked into the channel's name.
Under the deal, a new board of directors and an
editorial board will be created.
A separate five-year content agreement makes Times Co. a official programming
supplier and production partner across Discovery's networks.