• Paid Content, Friday, May 4, 2012 2:53 PM

in a competitive move to counter the digital's world "making aggressive overtures to Madison Avenue" with the NewFront, cable programmer Discovery Communications bought digital video creator and distributor Revision 3 for about $30 million, according to  Daniel Frankel.

Among the deal's benefits: "While Discovery spends about $500,000 – $700,000 to produce an hour of cable TV programming, Revision3 has been able to produce popular shows for a digital scale that’s much less than that," writes Frankel. 

Meanwhile, too, Discovery continues to wrestle with its "Oprah problem," as Bloomberg Businessweek puts it. Here's the bottom-line summary: "Discovery Networks invested more than $500 million in Oprah Winfrey’s cable network, which may have lost more than $300 million."

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