Discovery Communications Reorganizes Global Tax and Treasury Functions to Further Align with International Growth Opportunities
-- Todd Davis to oversee new tax and treasury organization with increased focus on international capital markets --
(Silver Spring, Md.) Discovery Communications, the world’s #1 nonfiction media company, today announced a reorganization of the company’s global tax and treasury functions, reporting to Chief Financial Officer Andy Warren, to further align the company’s global capital market functions.
Among the key focuses of the newly integrated functions, to be led by Executive Vice President Todd Davis, will be increasing Discovery’s treasury presence in key international capital markets. As part of the reorganization, Treasurer Gina Collis will now report to Davis and will expand the company’s international treasury presence with the addition of a London-based treasury leader to oversee European capital market activities.
“The integration of the tax and treasury organizations is a key step in ensuring that Discovery’s global treasury and tax strategies are fully aligned and that the company remains well positioned to take advantage of strategic opportunities around the world,” said Chief Financial Officer Andy Warren. “With his extensive experience in the media industry, including a key role in several recent international transactions, Todd is a perfect fit to lead these combined functions.”
“Discovery has unmatched international platforms in the media industry, and the international business has been a significant growth engine for the company,” said Davis. “I look forward to working with Andy, Gina and Discovery’s international leadership to further expand Discovery’s treasury presence in key capital markets and position the company to continue to expand its business around the world.”
Since joining Discovery in September 2012, Davis has led the company’s strategic and tactical tax planning, including the reorganization of its international entities and operations. He also was instrumental in the structuring and closing of the SBS Nordics, TF1/Eurosport and Switchover Media transactions.
Prior to Discovery, Davis co-led the global tax account for General Electric and GE Capital at Ernst & Young, LLP, as well as serving on the Media and Entertainment Industry team. Davis’s previous experience also includes 10 years at NBC Universal, most recently as Executive Vice President, Senior Tax Counsel, where he was responsible for global tax department management, tax planning and tax reporting, including tax-related support of the NBC-Universal merger and Comcast’s acquisition of NBC Universal, as well as more than 10 years at Arthur Andersen, LLP, including serving as a member of the Technology, Media and Communications Industry team.
Davis holds a Bachelor’s degree in Accounting from the Stern School of Business at New York University and a law degree from the Fordham University School of Law. He is an Attorney at Law and Certified Public Accountant in New York.
About Discovery Communications
Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) is the world’s #1 nonfiction media company reaching more than two billion cumulative subscribers in 223 countries and territories. Discovery is dedicated to satisfying curiosity through 162 worldwide television networks, led by Discovery Channel, TLC, Animal Planet, Science and Investigation Discovery, as well as U.S. joint venture networks OWN: Oprah Winfrey Network, The Hub and 3net, the first 24-hour 3D network. Across the Nordic region, Discovery owns and operates SBS Discovery Media, a top-three portfolio of 20 television brands that feature leading nonfiction content, as well as locally produced entertainment programs, sports and the best scripted series and movies from major studios. Discovery also owns Discovery Education, the leading provider of educational content and services to schools including an award-winning series of K-12 digital textbooks, and owns and operates a diversified portfolio of digital media services, including Revision3. For more information, please visit www.discoverycommunications.com.
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