Discovery to shed education business for $120M as it prepares to leave Silver Spring

Silver Spring-based Discovery Communications announced Monday it will sell majority stake in Discovery Education Inc. to a California private equity firm for $120 million.

Under the deal, Francisco Partners will own Discovery Education while Discovery Communications (NASDAQ: DISCA) retains a minority equity interest. The company will be led by current Discovery Education President and Chief Executive Bill Goodwyn, and will be operated as a standalone business.

The sale continues Discovery’s effort…

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