Discovery gets green Web site
EmptyNEW YORK -- Discovery Communications has acquired the eco-friendly Web site TreeHugger.com as part of its "Planet Green" initiative, the company said Wednesday.
TreeHugger, which features news, blogs and advice on conservation and environmental issues, attracts 1.4 million monthly unique visitors, Discovery said. The Web site, which was founded in 2004, was acquired for $10 million, according to a published report, but "will not have a material impact on earnings in Year 1," Discovery added.
This marks Discovery president and CEO David Zaslav's first acquisition since he moved from NBC Universal to Discovery in January.
"TreeHugger.com is a strategic complement to our digital media portfolio," said Bruce Campbell, president of digital media, emerging networks and business development at Discovery. "Bringing TreeHugger.com into the Discovery family gives it the resources to continue doing what it does best: bringing green living to the masses."
TreeHugger, which won a Webby Award earlier this year, also features newsletters, video segments and a weekly radio show. It supports a user-generated site, Hugg.com.
Planet Green is a multiplatform strategy dedicated to conservation and other "green" causes. Discovery plans to launch a 24-hour Planet Green channel by 2008 that will be in 50 million homes.