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Discovery Channel Acquires Revision3

The Discovery Channel has snapped up web video start-up Revision3.

While Discovery didn't reveal the price it paid, whispers on the grapevine indicate it was around $30 million. The deal is subject to the usual conditions, but should close before the month of May is out.

San Francisco-based Revision3 is a digital video production company which boasts some 27 online channels, and around 23 million unique viewers every month. It makes programmes hosted by online celebs - such as YouTube hot-shots and renowned bloggers - and indeed boasts ten of the largest networks on YouTube.

The firm's roster of shows includes Tekzilla, Epic Meal Time and HD Nation, and it has numerous distribution partners including Google, iTunes, AOL, Roku, Boxee and Zune.

JB Perrette, Chief Digital Officer, Discovery Communications, commented: "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."

"With Revision3's industry-leading management team and roster of great talent, we look forward to cultivating more original content and fresh personalities that resonate with passionate communities online and across all platforms, while enhancing our innovative marketing solutions for advertising partners."