Revision3, Internet TV Startup, Purchased For $30M By Discovery Channel [REPORT]

Kevin Rose, the founder of Digg.com and Revision3, recently announced that Revision3 has been acquired by the Discovery Communications, the parent company of the Discovery Channel.

For those that are unfamiliar with Revision3, it's is an internet television network that creates several web shows including Epic Meal Time and Tekzilla.

Discovery hasn't disclosed any information about the purchase price but both AllThingsD and TechCrunch are reporting that sources familiar with the transaction say Revision3 was bought for about $30 million. The company raised about $9 million since it was founded in 2005.

The 50 employees that work on Revision3 will all stay aboard the company, reports AllThingsD, and there's a chance that they all stand to earn a large payout following the acquisition, but Peter Kafka thinks it's unlikely.

Discovery is reportedly allowing Revision3 to continue operating as it has out of its San Francisco headquarters. Discovery Channel will most likely begin injecting its own digital content into the mix of Revision3 shows.

Kevin Rose publicly thanked several of the friends that co-founded and helped him build the company from the ground up on his Google Plus page. To view his entire message, click here.

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