It seems the rumours were true, IPTV network Revision 3 has been acquired by Discovery. The network’s biggest show Diggnation was recently discontinued, however Rev3 has a strong lineup of other titles like GeekBeat.tv. Tekzilla, The Totally Rad Show, Hak5, Foundation and many more.
Over the past few years, the network has grown substantially, reaching 50 staff and 100 million streams per month. The network financed a lot of the production cost with $10 million dollars of venture capital, but was strong on integrating advertising into shows.
Discovery will pay $30 Million dollars for Revision 3 and is said to leave most productions untouched. The announcement was also just confirmed by Tekzilla host, Patrick Norton, on TWiT.tv. For those of you not so familiar with Discovery, they are the US-based network that bring you hits like Mythbusters. Man vs Wild and Deadliest Catch.
Of all acquirers that Revision 3 could have gone to, Discovery appears to be a good fit. Only time will tell which shows and staff make it in the long term.
More information @ All Things D.