Discovery CEO Zaslav Declares OWN Cash-Flow Positive

Earnings are down overall, but ad revenue is up

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Discovery Communications missed the mark on its fourth-quarter earnings report today, off from analyst predictions by 8 cents (at an opening price of 82 cents a share), and missing predictions for revenue by $10 million. 

The main drag on the bottom line seemed to be its mammoth investment in SBS Nordic, signed at the end of last year but a continuing financial obligation, said CFO Andy Warren. The mortgage payment, essentially, is "about 40-plus million a quarter this year, and it tapers off a little next year and in subsequent years," Warren said.

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