Discovery Communications is scooping up Atlanta-based HowStuffWorks, the companies said Monday morning.
The Wall Street Journal said the deal was worth $250 million, but neither Discovery nor HowStuffWorks disclosed financial details.
HowStuffWorks traces its roots to Raleigh, N.C. where it was founded as a hobby in 1998 by former North Carolina State University professor Marshall Brain. Brain is a contributor to the company for content and programming.
The deal is expected to close in the fourth quarter.
HowStuffWorks will operate as a subsidiary of Discovery Communications and will remain based in Atlanta. There are “no immediate plans” to “significantly” change HowStuffWorks’ workforce of 160 people or its operations, Discovery said in a statement.
The addition of HowStuffWorks content will bolster Discovery’s position as a provider of online non-fiction information, Discovery added.
HowStuffWorks recently reported 11 million unique visitors a month, an increase of 25 percent over the past year.
In addition to its own content, HowStuffWorks owns digital rights to more than 30,000 books, 800,000 images and more than 180,000 maps.
"As the leader in knowledge and curiosity on television, we are proud to partner with the experienced management team of HowStuffWorks, the leader in knowledge and curiosity online," said David Zaslav, chief executive officer of Discovery Communications. "One of my early challenges at Discovery was determining how best to build a robust digital media portfolio. With HowStuffWorks, Discovery now has a solid platform for strengthening our digital businesses, leveraging our video assets to create new experiences for users, advertisers and our distribution partners, and taking those opportunities around the globe."
Jeff Arnold will continue as CEO of HowStuffWorks.
Discovery will launch a “How Stuff Works” program next summer.
As part of the deal, Discovery acquired a minority interest in HSW International, a separate firm that owns language rights to HowStuffWorks content in Brazil and China.