Discovery CFO Talks Acquisitions

Discovery Communications is on the hunt for acquisitions, though probably on a small scale, like this year's $35 million purchase of Revision3, an Internet TV network, CFO Andy Warren said Wednesday at the Goldman Sachs Communacopia conference in New York.

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"The first allocation is to support organic growth, and we're doing that. We are putting a lot more money behind content-spend in 2012 versus 2011," Warren said. "If we could find the right accretive acquisition, we'd like to do that."

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Warren praised his company's decision to buy Revision3 because Discovery can "maximize" the revenue potential of the interesting content the small has been creating.

"As far as large-scale acquisitions, it's something we always take a look at, but probably in the international space is where we'd put most of our capital to work, if possible," Warren said. "If the right, accretive acquisition is not available to us, we certainly believe that returnig capital to shareholders through repurchases is the best way to go."

Warren hardly mentioned the company's TLC sensation, Here Comes Honey Boo Boo, except to note that it probably wouldn't transfer well to a lot international territories, like India, for example.