Discovery Inc - Ordinary Shares - Series C DISCK

Discovery, Inc., formerly Discovery Communications, Inc., incorporated on April 28, 2008, is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. The Company's segments include U.S. Networks, which consists principally of domestic television networks and digital content services; International Networks, consisting primarily of international television networks and digital content services, and Education and Other, which consists principally of curriculum-based product and service offerings, and production studios.

The Company's portfolio of networks includes television brands, such as Discovery Channel, TLC, Animal Planet, ID, Velocity (known as Turbo outside of the United States) and Eurosport. It is also engaged in extending content distribution across various platforms, including brand-aligned Websites, Web-native networks, online streaming, mobile devices, video on demand (VOD) and broadband channels, which provide promotional platforms for its television content. Its content spans genres, including survival, exploration, sports, lifestyle, general entertainment, heroes, adventure, crime and investigation, health and kids.

U.S. Networks

The U.S. Networks segment principally consists of national television networks. As of December 31, 2016, its U.S. Networks segment owned and operated 10 national television networks, including fully distributed television networks, such as Discovery Channel, TLC and Animal Planet. In addition, U.S. Networks segment holds an equity method interest in Oprah Winfrey Network (OWN). As of December 31, 2016, it provided authenticated U.S. TV Everywhere products available to certain subscribers, and connected viewers through GO applications with live and on-demand access to shows and series from nine U.S. Networks in the Discovery portfolio: Discovery Channel, TLC, Animal Planet, ID, Science Channel, Velocity, Destination America, American Heroes Channel (AHC) and Discovery Life.

International Networks

The Company's International Networks segment consists of national and pan-regional television networks and brands that are delivered across multiple distribution platforms. The International Networks segment has operations in pay-TV market in the world through an infrastructure that includes operational centers in London, Warsaw, Milan, Singapore and Miami. Its global brands include Discovery Channel, Animal Planet, TLC, ID, Science Channel and Turbo (known as Velocity in the United States), along with brands exclusive to International Networks, including Eurosport, Real Time, DMAX and Discovery Kids. As of December 31, 2016, International Networks operated over 400 distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities. International Networks also has FTA and broadcast networks in Europe and the Middle East, and broadcast networks in Germany, Norway and Sweden.

Education and Other

Education includes curriculum-based product and service offerings. The Company offers subscriptions to K-12 schools for access to an online suite of curriculum-based VOD tools, professional development services, digital textbooks, student assessments and publication of hard copy curriculum-based content. Other comprises production studios that develop content for its networks and other television service providers throughout the world. Its production studios provide services to its U.S. Networks and International Networks segments.