Revision 3, the company that once championed it was the evolution of video programming as the first ‘post-cable’ television network, has been bought by cable giant Discovery Communications.
Although the exact terms of the deal were not disclosed, AllThingsDigital reported that Discovery Communications paid approximately $30 million for the web video producer.
“Discovery’s mission to ignite viewers’ curiosity and its history of pioneering new platforms – from cable to HD to 3D – make it the logical leader in this explosive new wave of digital video growth,” said JB Perrette, Chief Digital Officer, Discovery Communications, in a statement.
“We produce content on a $500,000 to $750,000-an-hour scale,” Mr. Perrette added.
“Producing something at a tenth of that cost means it has to be very different.”
Jim Louderback, who once blogged that cable T.V is “screwd” because of business models like Revision 3’s, came out of the deal telling AllThingsDigital that “One [media model] not going to destroy the other. I don’t think any new media destroys the other. I think it just creates its own path.”
Mr. Louderback could not be reached for comment by Hardware Canucks.
According to both companies, Revision 3 will remain in San Francisco with the same staff and program talent.
“We want them to continue doing what they’re doing, and to continue developing native digital talent,” Mr. Perrette told AllThingsDigital.
Revision 3 was founded by Tech TV alum Kevin Rose, David Prager, and Internet entrepreneur Jay Adelson. During the network’s inception, Tech TV alumni, such as Kevin Rose, Martin Sargent, and Alex Albrecht accounted for most of its lineup of talent though it later years this lineup shifted. With the end of Diggnation, Patrick Norton, host of Tekzilla, is the only Tech TV alum of note remaining.
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