MUMBAI: US non fiction media company Discovery has reported full year ended 2011 revenues of $4.2 billion, a 12 per cent jump over 2010 revenues, primarily driven by an 11 per cent growth at US Networks and 16 per cent growth at International Networks.

Adjusted OIBDA grew by 13 per cent to $1,914 million, driven by a 10 per cent increase at US Networks and an 18 per cent increase at International Networks.

The domestic results included significant additional licensing revenues under an extended and expanded licensing agreement, partially offset by increased content costs from higher impairment charges and changes in amortization rates at several networks.

Full year 2011 net income from continuing operations available to Discovery stockholders of $1.13 billion increased $503 million compared to $630 million a year ago.

The current year results primarily reflect the strong operating performance, a gain of $102 million, net of tax, as a result of contributing the domestic Discovery Health network to the Own: Oprah Winfrey Network (Own) joint venture, $99 million of lower expense from the change in the fair value of mark-to-market share-based compensation and $137 million in lower taxes, primarily due to the recognition of foreign tax credits.

The increase also reflects a $136 million loss on the early extinguishment of debt and termination of interest rate swaps included in the prior year.

Free cash flow was $1 billion for the year, an increase of $423 million from full year 2010, due to increased operating performance as well as lower net tax, interest and long-term incentive compensation payments, partially offset by higher working capital and content investments.

The prior year included payments of $138 million for the early extinguishment of debt and termination of interest rate swaps.

Fourth quarter revenues of $1.12 billion increased $107 million, or 11 per cent, over the fourth quarter a year ago, led by 11 per cent growth at US Networks and 12 per cent growth at International Networks.

Adjusted Operating Income Before Depreciation and Amortization (OIBDA) grew by eight per cent to $498 million, including $20 million of additional content costs in the quarter due to changes in amortization rates at several networks and higher impairment charges, as well as $12 million in adverse foreign currency impact.

Fourth quarter net income from continuing operations available to Discovery stockholders of $336 million increased by $142 million compared to $194 million for the fourth quarter a year ago.

The current quarter results reflect the strong operating performance as well as $109 million in lower taxes primarily due to the recognition of foreign tax credits as a result of a reorganisation of certain international operations, partially offset by a $20 million impairment charge related to our commerce operations.

Free cash flow was $324 million for the fourth quarter, an increase of $121 million from the fourth quarter of 2010, due to increased operating performance as well as lower net tax and long-term incentive compensation payments.

MUMBAI: Left with little live content for its cricket specific channel, Neo Cricket Tuesday announced that it has acquired telecast rights for the South Africa-New Zealand series from Max, the India broadcast rights holder for international cricket played in New Zealand.

The South Africa Tour to New-Zealand will comprise three T20s, ODIs and Tests matches each from 17 February to 23 March.

Neo Sports Broadcast COO Prasana Krishnan said, ?The series promises to be highly engaging as South Africa is just one step away from being the No. 1 test side while New Zealand is in terrific form after drawing a test series against Australia last December."

The broadcaster had recently reworked a fresh distribution deal with MSM Discovery that would reduce the payout compared to earlier three-year deal that was called-off as Neo had lost the India cricket rights.
Neo will also showcase the four nation Asia Cup from 1-12 March featuring India, Pakistan, Sri Lanka and Bangladesh.

MUMBAI: US infotainment and lifestyle broadcaster Discovery has signed a content deal with the Colombian government, making it the first accord ever between the nation and a media company.

Signed in Bogota, the co-production partnership with Colombia?s Ministry of Information Technology and Communications (TIC) is to produce content for and about Colombia as well as to promote and spur television production training programmes in the country.

The projects aim to contribute to the development and promotion of Colombian culture, reflecting the country?s current reality and history.

Discovery president, CEO David Zaslav said, "Colombia is a very important market for Discovery Communications, and we are building on the great programming success we have had to date. Discovery is committed to investing more in the local economy, collaborating with the creative community, and working with the Colombian government to produce high-quality programming about this exciting and vibrant
country."

MUMBAI: US infotainment and lifestyle media company Discovery has announced that TLC and Own: Oprah Winfrey Network have acquired the rights to ?Undercover Boss UK? and ?Undercover Boss Australia?, airing on the networks as Undercover Boss: Abroad.

The show kicks off on TLC in the US on 13 February. Own will add the series to its schedule beginning 13 March.

?Undercover Boss: Abroad?, distributed in the US by CBS Television Distribution, has the same format as the American version, following high-level corporate executives as they slip anonymously into the rank and file of their own companies.

Each week, a different executive will leave the comfort of their corner office for an undercover mission to examine the inner workings of their corporation. While working alongside their employees, they will learn about themselves, the effects their decisions have on others, where the problems lie within their organisation, the perception of their company, and discover the unsung heroes of their work force.

Many of the companies featured in Undercover Boss: Abroad are worldwide brands, including YMCA, Domino?s Pizza, Sodexo, Best Western Hotels and Isuzu Trucks. The series will also explore brands and businesses unique to their own countries.

CBS senior VP of corporate licensing and distribution Scott Koondel said, "The original American version of UNDERCOVER BOSS was an instant hit on CBS and has turned into a powerful franchise for the off-network marketplace with numerous international editions to extend the brand".

Additionally, ?Undercover Boss Canada? joins the networks? schedules later in the year.