Discovery Communications Inc (NASDAQ:DISCA) Q4 2016 Earnings Conference Call - Final Transcript

Feb 14, 2017 • 08:30 am ET

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Discovery Communications Inc (NASDAQ:DISCA) Q4 2016 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen and welcome to the Discovery Communications' Full Year and Fourth Quarter 2016 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions] As a reminder, today's conference is being recorded.

I would now like to introduce your host for today's conference, Jackie Burka, Vice President, Investor Relations.

Executive
Jackie Burka

Good morning, everyone. Thank you for joining us for Discovery Communications' 2016 Fourth Quarter and Year-end Earnings Call. Joining me today are David Zaslav, our President and Chief Executive Officer and Andy Warren, our Chief Financial Officer. You should have received our earnings release, but if not, feel free to access it on our website at www.discoverycommunications.com. On today's call, we will begin with some opening comments from David and Andy and then we will open up the call for your questions. Please keep to one question so we can accommodate as many people as possible.

Before we start, I would like to remind you that comments today regarding the Company's future business plans, prospects and financial performance are forward-looking statements that we make pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are made based on management's current knowledge and assumptions about future events and they involve risks and uncertainties that could cause actual results to differ materially from our expectations. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. For additional information on important factors that could affect these expectations, please see our annual report for the year ended December 31, 2015 and our subsequent filings made with the US Securities and Exchange Commission.

And with that, I will turn the call over to David.

Executive
David M. Zaslav

Good morning, everyone and thanks for joining us today. 2016 was a pivotal year for Discovery Communications. We reported record revenues, profit and free cash flow and took a number of important steps to ensure our continued success and growth in today's rapidly-evolving media and technology landscape. I will spend a few minutes detailing some of the year's most important highlights and how they position us for the future before turning it over to Andy for a detailed review of our financials.

First, let me start with an update on Eurosport and the Olympic Games, which as you know, are a key pillar of our international growth strategy. Starting January 1st and as we ramp up for the 2018 Winter Games in Pyeongchang, South Korea, Eurosport is now the official home to the Olympics in Europe for the next four games. We will have an opportunity to reach over 740 million people. We will also be the exclusive home for the Olympic Games in Sweden and Norway, where winter sports are hugely important, and in Germany, the continent's largest market. In all three markets, we will deliver the Olympic Games across all of our owned platforms