Investment Firm Raises Stake in Discovery Communications

Discovery Communications

FMR has raised its Class A stock holding in the cable networks company to 18.2 percent, a regulatory filing shows.

NEW YORK - Investment firm FMR LLC, the parent of Fidelity Management & Research Co., has added to its stake in Discovery Communications and now controls 18.2 percent of the cable networks company's Class A stock, according to a Monday regulatory filing.

The filing showed that the Boston-based firm owned 25,699,140 shares of Class A stock, or 18.209 percent. An older filing shows that FMR held 24.5 million shares of Discovery, led by CEO David Zaslav, as of Sept. 30. The purchase of more stock is typically seen as a sign that an investor sees upside in a stock.

As is common practice in these cases, a Discovery spokeswoman declined comment. 

In October, FMR slashed its stake in AOL to less than 5 percent after raising it to 10.32 percent in July. 

The investment company also owns stock in the likes of the Walt Disney Co., Time Warner, Comcast, DirecTV, Apple, Google and Amazon.com, among others.

Email: Georg.Szalai@thr.com

Twitter: @georgszalai

comments powered by Disqus