Discovery Communications Announces Pricing of Senior Notes

          Discovery Communications Announces Pricing of Senior Notes

PR Newswire

SILVER SPRING, Md., March 12, 2013

SILVER SPRING, Md., March 12, 2013 /PRNewswire/ -- Discovery Communications,
Inc. (Nasdaq: DISCA, DISCB, DISCK) (the "Company") announced today that
Discovery Communications, LLC ("DCL") has priced an offering of $350 million
aggregate principal amount of its 3.250% senior notes due 2023 (the "2023
Notes") and $850 million aggregate principal amount of its 4.875% senior notes
due 2043 (the "2043 Notes" and together with the 2023 Notes, the "Notes").

The 2023 Notes were priced at 99.838% of their principal amount to yield
3.269% to maturity. The 2043 Notes were priced at 99.888% of their principal
amount to yield 4.882% to maturity. The sale of the Notes is expected to
close on March 19, 2013, subject to customary closing conditions.

The Notes will be unsecured and will rank equally with all of DCL's other
unsecured senior indebtedness. The Notes will be fully and unconditionally
guaranteed on an unsecured and unsubordinated basis by the Company.

DCL expects the net proceeds from the offering of the Notes to be
approximately $1.19 billion after deducting the underwriting discount and
estimated expenses related to the offering.

DCL intends to use the net proceeds for general corporate purposes, including
the acquisition of companies or businesses, repayment and refinancing of debt,
working capital, capital expenditures and the repurchase by the Company of its
capital stock.

J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Credit Suisse Securities (USA) LLC, Citigroup Global Markets
Inc. and RBS Securities Inc. acted as joint book-running managers for the
offering. BNP Paribas Securities Corp., Morgan Stanley & Co. LLC, RBC Capital
Markets, LLC, Scotia Capital (USA) Inc., Credit Agricole Securities (USA)
Inc., Goldman, Sachs & Co., SunTrust Robinson Humphrey, Inc. and Wells Fargo
Securities, LLC acted as co-managers for the offering.

DCL has filed a registration statement on Form S-3 (including a prospectus)
with the Securities and Exchange Commission (the "SEC") for this offering.
Prospective investors should read the prospectus forming a part of that
registration statement and the prospectus supplement related to the offering
and the other documents that DCL has filed with the SEC for more complete
information about DCL and this offering. These documents are available at no
charge by visiting EDGAR on the SEC website at Alternatively,
these documents will be made available upon request by DCL or by any
underwriter or dealer participating in the offering. Interested parties may
obtain a prospectus by contacting one of the joint book-running managers at:
J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention:
Investment Grade Syndicate Desk, 3^rd Floor, telephone collect at
1-212-834-4533, Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222
Broadway, 11^th Floor, New York, NY 10038, Attn: Prospectus Department,
toll-free at 1-800-294-1322 or by Email:, or
Credit Suisse Securities (USA) LLC, Attention Prospectus Department, One
Madison Avenue, New York, NY 10010, via telephone 1-800-221-1037, or by

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy the Notes, nor shall there be any offer, solicitation or
sale of the Notes in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.

About Discovery Communications

Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) is the world's #1
nonfiction media company reaching more than 1.8 billion cumulative subscribers
in 218 countries and territories. Discovery is dedicated to satisfying
curiosity through 155 worldwide television networks, led by Discovery Channel,
TLC, Animal Planet, Science and Investigation Discovery, as well as U.S. joint
venture networks OWN: Oprah Winfrey Network, The Hub and 3net, the first
24-hour 3D network. Discovery also is a leading provider of educational
products and services to schools and owns and operates a diversified portfolio
of digital media services, including Revision3.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995 that are based
on current expectations, forecasts and assumptions that involve risks and
uncertainties.Forward-looking statements include statements regarding the
Company's expectations, beliefs, intentions or strategies regarding the
future, and can be identified by forward-looking words such as "anticipate,"
"believe," "could," "continue," "estimate," "expect," "intend," "may,"
"should," "will" and "would" or similar words. Forward-looking statements in
this press release include, without limitation, statements regarding the
completion of, and use of proceeds from, the offering. These statements are
based on information available to the Company as of the date hereof, and
actual results could differ materially from those stated or implied, due to
market conditions, as well as risks and uncertainties associated with the
Company's business, which include the risk factors disclosed in Amendment No.
1 to the Company's Annual Report on Form 10-K/A filed with the SEC on February
19, 2013. The Company expressly disclaims any obligation or undertaking to
update or revise any forward-looking statement contained herein to reflect any
change in the Company's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is based.

SOURCE Discovery Communications

Contact: Corporate Communications, Michelle Russo, +1-240-662-2901,; Investor Relations, Craig Felenstein,
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