Discovery Announces Debt Offering

Discovery, Inc. ("Discovery" or the "Company") (Nasdaq: DISCA, DISCB, DISCK) announced today that Discovery Communications, LLC ("DCL") has commenced an underwritten public offering of senior fixed rate notes. The notes will be issued by DCL and guaranteed by the Company and its wholly owned subsidiary Scripps Networks Interactive, Inc. ("Scripps").

The Company intends to use the net proceeds from the offering to redeem all of DCL's outstanding 2.750% Senior Notes due November 2019 and 5.050% Senior Notes due June 2020, as well as Scripps' outstanding 2.750% Senior Notes due November 2019 (collectively, the "Redeemed Notes"), and to pay interest, premiums, fees and expenses in connection with those redemptions. The Company intends to use any remaining proceeds for general corporate purposes, which may include without limitation, the acquisition of other companies or businesses, repayment and refinancing of debt, working capital, capital expenditures and the repurchase by Discovery of its capital stock.

Barclays Capital Inc., J.P. Morgan Securities LLC, BNP Paribas Securities Corp, Mizuho Securities USA LLC and RBC Capital Markets, LLC will act as the active joint book-running managers for the offering. 

The Company, DCL and Scripps have filed a registration statement on Form S-3 (including a prospectus) with the Securities and Exchange Commission (the "SEC") for this offering. Prospective investors should read the prospectus forming a part of that registration statement and the prospectus supplement related to the offering and the other documents that Discovery has filed with the SEC for more complete information about Discovery, DCL, Scripps and this offering. These documents are available at no charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, these documents will be made available upon request by DCL or by any underwriter or dealer participating in the offering. Interested parties may obtain a prospectus by contacting one of the joint book-running managers at: Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone:  1-888-603-5847, or by e-mailing This email address is being protected from spambots. You need JavaScript enabled to view it.; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, 3rd floor, telephone collect: 212-834-4533; BNP Paribas Securities Corp, 787 Seventh Avenue New York, NY Attention: Syndicate Desk 10019, 212-841-2871 or toll free 1-800-854-5674, This email address is being protected from spambots. You need JavaScript enabled to view it.; Mizuho Securities USA LLC, 320 Park Avenue, New York, NY 10022, 866-271-7403, This email address is being protected from spambots. You need JavaScript enabled to view it.; and RBC Capital Markets, LLC, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281, Attention: Syndicate Operations, toll-free: (877) 822-4089, email: This email address is being protected from spambots. You need JavaScript enabled to view it..