As Discovery Communications prepares for a possible IPO the cable network will
close its 103 Discovery Stores, eliminating 1,000 jobs, or 20% of its
workforce. The latest move is part of new CEO David Zaslav's plan to pare
underperforming assets before going public, according to The Washington Post.
To make an IPO easier, Discovery also simplified its ownership structure by
buying
out Cox Communications' stake in the company earlier this year.
—Matthew Wurtzel
