MUMBAI: Discovery has announced that revenues for 2012 was $4.4 billion increased $319 million, or eight per cent, over 2011 revenues, primarily driven by 13 per cent growth at International Networks and 5 per cent growth at U.S. Networks.

Adjusted OIBDA grew 9 per cent to $2,095 million, driven by an 8 per cent increase at U.S. Networks and a 12 per cent increase at International Networks. Excluding foreign currency fluctuations, full year revenues increased 9 per cent and Adjusted OIBDA increased 12 per cent.

But net income for the year from continuing operations available to Discovery stockholders was $954 million, decreasing by $181 million compared to $1.1 billion a year ago as the strong operating performance in the current year was more than offset by the prior year inclusion of a $102 million, net of tax, gain from the contribution of the Discovery Health network to the OWN: Oprah Winfrey Network (Own) joint venture as well as the recognition of foreign tax credits a year ago.

Current year results also included increased mark-to-market equity-based compensation, higher interest expense and lower equity earnings as the Company began recording 100 per cent of OWN?s net losses in 2012.

Free cash flow was $1 billion for the year, a decrease of $20 million from 2011, as better operating performance was more than offset by higher content investment, cash taxes and interest.

Discovery president, CEO David Zaslav said, ?Discovery?s commitment to investing in our brands and developing new and diverse growth opportunities produced another year of strong operating momentum and financial results in 2012. The appeal of our content resulted in larger audiences across the globe, enabling us to deliver consistently healthy advertising growth both domestically and internationally, while we further leveraged our valuable programming across emerging distribution platforms worldwide.

"At the same time, the strength of our balance sheet allowed us to make several strategic investments that we believe further bolster our asset portfolio, while also returning over $1.3 billion to shareholders this year. We head into 2013 with significant momentum, having just delivered the highest fourth quarter domestic viewership in our history, and will continue to invest in strategic growth initiatives so that we can deliver sustained long-term financial results and shareholder value.?

Fourth quarter revenues were $1.2 billion increased $94 million, or eight per cent, over the fourth quarter a year ago, led by 15 per cent growth at International Networks and four per cent growth at US Networks. Adjusted Operating Income Before Depreciation and Amortization (OIBDA) grew by nine per cent to $545 million, as a 17 per cent increase at International Networks, despite the adverse impact of foreign currency fluctuations, and a 7 per cent increase at US Networks, more than offset strategic transaction related costs recognised in the quarter. Excluding foreign currency fluctuations, fourth quarter revenues increased 9 per cent and Adjusted OIBDA increased 11 per cent.

Fourth quarter net income from continuing operations available to Discovery stockholders of $224 million decreased by $112 million compared to $336 million for the fourth quarter a year ago as the strong operating performance and improved equity earnings in the current year were more than offset primarily by higher taxes and increased mark-to-market equity-based compensation. The higher taxes were largely due to foreign tax credits recognized a year ago as well as an increase in tax reserves in the fourth quarter of 2012.

Free cash flow was $304 million for the fourth quarter, a decrease of $20 million from the fourth quarter of 2011, as improved operating performance was more than offset by higher content investment, interest and cash taxes. Free cash flow is defined as cash provided by operating activities less acquisitions of property and equipment.

MUMBAI: Discovery Networks Asia-Pacific senior vice president & general manager ?South Asia Rahul Johri was conferred the "CEO of the Year" award at the Broadcasting Industry Awards organised by the World Brand Congress.

With over 19 years of experience in the industry, Rahul has worked across media verticals, from news channels, magazines and news dailies.

The award was given in recognition of Johri?s impactful strategy in establishing Discovery as the leading non-fiction media company in the country and his inspiring leadership to build a robust and varied portfolio of eight unique channels, led by the leading factual entertainment brand - the Discovery Channel.

Johri has been responsible for the company?s expansion and growth including its localisation strategy and launch of multiple language feeds across brands. His venture to launch the game changing channel in the kids genre, Discovery Kids, has received industry wide applaud. His recent initiative is Discovery?s association with India Today Group to launch Discovery Channel Magazine in India.

Johri said, "It is an honour for the entire company. I am grateful to my team, our esteemed partners and stakeholders in the region who have shared the spirit of commitment in making Discovery as one of the most respected television brands in South Asia.?

The jury said, ?The distinction compliments Rahul Johri?s innovative thinking and creative leadership which has translated into business excellence.?

Johri joined Discovery in 2001 and currently leads its South Asia operations. He is responsible for the overall growth strategy of India?s highest quality factual and lifestyle portfolio including Discovery Channel, Animal Planet, TLC, Discovery Science, Discovery Turbo, Discovery HD World, Discovery Tamil and Discovery Kids.

Rahul is also credited with commissioning a range of acclaimed series including Living with a Superstar: Shah Rukh Khan, What Not to Wear: India, Oh My Gold!, and Be Blunt with Adhuna Akhtar. He also spearheaded Discovery Channel?s association with Yash Raj Films for the latest release Jab Tak Hai Jaan and with the Indian Army for its women officers? expedition to Mount Everest in 2012.

Johri is a Board Member and Treasurer of Indian Broadcasting Foundation (IBF). He is also a member of the media and entertainment committee of Confederation of Indian Industries (CII) and member of the Media & Entertainment Division of Ficci

MUMBAI: Discovery Networks Asia-Pacific has partnered with India Today Group to launch the Discovery Channel Magazine in India.

Mirroring the different genres featured on the Discovery Channel, the Discovery Channel Magazine will cover a wide spectrum of topics including nature, adventure, marvels, sci-tech, history, the universe, forensics, seekers, survival, info-tech, psychology and the environment.

To be published monthly, Discovery Channel Magazine will have a contemporary design and feel and will stay true to the DNA of the Discovery brand. The editorial will deliver a compelling read, with strong injections of humour and emotion.

Discovery Networks Asia-Pacific SVP and GM - South Asia Rahul Johri said, "Discovery Channel Magazine will provide additional touch points for our viewers and will serve as an extension of Discovery Channel?s ability to satisfy their curiosity on a broad range of subjects. We are delighted to launch the magazine in partnership with the India Today Group - one of India?s leading and most respected media companies.?

India Today Groups CEO Ashish Bagga commented, ?India?s growth and the exposure of the average Indian to the world have created a market for globally acclaimed quality knowledge products. Discovery Channel Magazine with its high quality content will fill the void in this space in the Indian market. We are excited to launch this magazine and feel strongly that this will add to the vast portfolio of diversified, market leading products of the India Today Group and will add to the depth of our relationship with our customers.?

Discovery Channel Magazine is currently sold in Australia, Hong Kong, Indonesia, Malaysia, Taiwan, New Zealand, the Philippines, Singapore and Thailand at newsstands, and is also available for subscription sales in Bangladesh, Cambodia, China, Japan, Korea, Laos, Macau, Nepal, Pakistan, Papua New Guinea, Thailand, Taiwan and Vietnam.

Discovery Channel Magazine recently won the Award for Excellence in Magazine Design, at the Society of Publishers in Asia (SOPA) 2012 Awards for Editorial Excellence.

MUMBAI: Factual entertainment channel Discovery Channel launches tonight a new show ?The Magic Of Science?.

This is a new series featuring illusions performed by an ensemble of fresh, innovative magicians in front of live spectators. The twist - each feat is backed by real science, with an explanation and breakdown to prove it.

The nine-part series is a part of Discovery?s block ?Ultimate Discovery? and starts tonight 11 February at 9 pm. Episodes begin with impromptu tricks captured by hidden cameras and culminate in full-scale, elaborate stunts in a melding of magic and science. The result is a blending of theatrical exhibition and empirical principles, bolstered by the before and after reactions of the audience.

The show looks to elevate the purely entertaining aspect of magic to new heights by proposing seemingly impossible endeavours, executing them flawlessly, and ultimately disclosing the scientific reality as the featured magicians, Canadian female, Billy Kidd, American Wayne Houchin, Briton Ben Hanlin and Australian James Galea explore the physics, chemistry, biology and a little pure Einstein that make illusions possible. The magicians are filmed in New York, London, and Warsaw with the help of both hidden and open cameras for the largest possible impact.

From a new scientific lie detector test, a silver bracelet that transforms into gold, to mind-reading metal and burning ice cubes, the magicians transform sceptical viewers into astonished believers by doing the opposite of what they usually do: showing us how the tricks are done. The talented troop of magicians, each armed with their unique style of delivery, challenges onlookers with inconceivable claims and seamless execution, all through the very real magic of science. Live audiences and home viewers alike will be stunned by the tricks themselves as well as their real world applications.