Discovery.com Scraps Idea of Public Offering

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Bethesda, Md.-Citing market conditions in the dot-com sector, Discovery Communications Inc. executives said last Friday that they have no plans to help finance Discovery.com Inc. with a public sale of stock.

"Based on current conditions and our current business strategy, we're going to continue to finance it internally," Discovery.com president Michela English said, adding that DCI plans to pump in $500 million over the next five years.

In February, DCI said it would combine online assets into seven vertical portals under Discovery.com. At the time, executives said they were considering an initial public offering to help raise funds.

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