Discovery to acquire HowStuffWorks.com
Discovery Communications, owned by Discovery Holding Co, said it has agreed to buy HowStuffWorks, www.howstuffworks.com, an online Web site that focuses on explanations of a range of topics for all ages, to build its digital media portfolio.
Through HowStuffWorks, Discovery Communications also will hold a minority equity position in HSW International, that has the local language rights to the HowStuffWorks content and brand in Brazil and China.
The impact to Discovery Communications' operating cash flow will be immaterial in year one, the company said in a statement.
How Stuff Works is a long standing provider of edutainment content on the web. The site was founded in 1998 by former North Carolina State University professor Marshall Brain, took venture capital at the height of the first web boom in 1999 and was acquired by the Convex Group in 2002.
According to Alexa, How Stuff Works has passed its glory days of popularity, having peaked in 2005 and declined in traffic since then, however the site still ranks in the top 2000 sites online.
