Andre Yoskowitz
4 May 2012 0:02
The Discovery Channel has announced its purchase of the internet video service Revision3.
Revision3 produces Web shows about technology, video games, entertainment and other contemporary topics. A few of its most well known shows are "Epic Meal Time," "Tekzilla" and "Film Riot."
The cable network giant, which is valued at $24 billion, will pay about "$30 million" for Revision3 while keeping on all 50 employees.
Revision3 saw its revenue increase by 53 percent in 2011 and video viewership grew more than 350 percent.
Noted Revision's CEO Jim Louderback earlier this year: "We had another amazing year in 2011, and are looking forward to a strong 2012 with our content available anywhere and everywhere. By working with incredibly talented content creators, we have been building a stable of shows that deliver audience numbers as big, or bigger, than most cable shows."