Silver Spring, Md. - Discovery Communications, the large television network, announced that it will close its 103 Discovery Channel Stores by the end of third quarter.

About 1,000 full-time and part-time employees -- or 25% of Discovery Communications' global workforce -- will be affected by the closures.

The company said its new retailing strategy aims to sell its products through other retailers, rather than its own stores. The company also intends to grow its online retailing operations.

"While retail is historically not the core competency of global media companies, there is strong consumer demand for Discovery's branded product lines," said David Zaslav, president and CEO of Discovery Communications.

"The company's e-commerce operations posted record growth and sales for 2006, and to realize the full value of our quality content, Discovery must also sell through large retailers who have more stores and provide more exposure to a greater number of consumers."

Related Links:
http://biz.yahoo.com/prnews/070517/neth097.html?.v=5

http://www.discovery.com