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DISCOVER MAGAZINE ELEVATES ROBERT GUCCIONE, JR. TO CHAIRMAN APPOINTS HENRY DONAHUE CHIEF EXECUTIVE OFFICER New York, NY – October 10, 2007 – DISCOVER Media announced today two strategic moves designed to build on the revitalization of the magazine. Bob Guccione, Jr., Chief Executive Officer of DISCOVER Media and its flagship publication DISCOVER Magazine (www.DISCOVERmagazine.com) will become Chairman of the company, focusing primarily on extending the DISCOVER brand through new business initiatives. Henry Donahue, Chief Financial Officer, who has been with DISCOVER for over two years, will become Chief Executive Officer and take over the day to day responsibility for running the business. Mr. Guccione initiated the purchase of DISCOVER magazine from the Walt Disney Company, teaming up with two private equity firms which specialize in media investing, Sandler Capital Management and WallerSutton 2000, LP. For the past two years he has spearheaded the revitalization of the magazine and turned the business into a profitable one. The revamped editorial product has in turn helped generate a 20% increase in ad pages for the first six months of 2007 versus the same period last year. The magazine achieved this increase while the industry as a whole was down 0.5% for the same period over 2006. Additionally, DISCOVER’s average single copy sales have increased 35% since the acquisition in October 2005. “I’m very proud of how we’ve turned a dormant magazine and business into a vital and successful one, especially in a sluggish environment for the magazine industry. Privately owned magazines can take risks, offering compelling, cutting edge content that really speaks to their readers,” said Mr. Guccione. Under Mr. Guccione and his management team, DISCOVER launched several successful special issues as well as relaunched and dramatically enhanced DISCOVER Magazine.com, and entered the book publishing market with the first DISCOVER branded title due out this coming March. The company envisions a number of new ventures, including television programming and international licensing. Mr. Guccione will focus on these initiatives. "Bob and I have worked hard for the past two years to rebuild the DISCOVER franchise,” said Mr. Donahue. “We're in a great position now to grow our print and online businesses organically and through acquisitions with Bob's continuing creative and strategic input." DISCOVER’s strong and highly experienced management team was augmented earlier this month with the hiring of William C. Hostetter as Publisher. Mr. Guccione, Mr. Donahue and the company’s Board of Directors expect continued growth from this long respected magazine through the expansion of its print and online and other programming properties. About DISCOVER DISCOVER poses essential questions and tackles highly topical, sometimes controversial issues on the cutting edge of science, technology and the future. The magazine’s mandate is to unlock the mysteries of science in a way that reveals its wonder and captures the imagination of its readers. Every month, DISCOVER features the groundbreaking innovators and seminal thought leaders in science and technology who are shaping tomorrow’s world today. DISCOVER is published by DISCOVER Media LLC. DISCOVER is online at www.DISCOVERmagazine.com. # # # Contact: Jessie duPont and John Bianchi Goodman Media International (212) 576-2700
