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April 3, 2007
Industry trade publication Broadcasting & Cable is reporting that as many as 300 Discovery workers could be laid off by April 9, particularly from the company's retail, education and international divisions.
The publication states the number could climb as high as 10 percent of Discovery's work force, which counts 6,000 people globally.
Discovery officials would not comment, referring to a strict policy to never comment on personnel matters.
In December, the Silver Spring-based company laid off about 84 workers from its education division, which provides video-based learning services to teachers, students and parents. Officials said the cuts were necessary to streamline redundancies after a buying spree that added seven companies during the 18 months prior.
Discovery has been going through a wave of high-level changes, led by new President and CEO David Zaslav, a former NBC Universal executive. The changes included a reorganization that ousted Discovery Networks President Billy Campbell and other senior executives.
In addition, Discovery announced March 29 that it would buy out Cox Communications' 25 percent interest in the company for $1.28 billion. Discovery Holding Co. (NASDAQ: DISCB), controlled by Liberty Media's John Malone, has a 66 percent stake. Advance Publications, which owns American City Business Journals, continues to hold a 33 percent stake.
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