Discovery Channel founder John Hendricks discusses the sudden collapse of a critical $6 million second-round financing deal in January 1986.
Insight
Hendricks: Up To 40% Of People Crave Science And History Programming
“I think, you know, there's 25 to 40% Of humanity that's deeply curious. They really want to know, where do we come from? You know, how, how is our future going to be shaped by our past? Where are we in the universe, for example? So it's that audience, which ha…”
Assertion Supported
Hendricks: Westinghouse's $1M Discovery debt-for-equity swap reached $65M
“Now, that one million dollars, I think, turned in later to be like, sixty-five million.”
Disclosure
Hendricks: Ad-Driven Revenue Pushed Discovery Toward Sensational Reality TV
“When you have over, a little over half of your revenue is from advertising, it drives you to certain decisions”
Assertion Contradicted
Hendricks: Supreme Court struck down FCC cable network restrictions as unconstitutional
“The Supreme Court decided that the FCC restrictions that prevented the creation of cable networks were Was not constitutional, and the Supreme Court held that anybody who wanted to start a cable network was a First Amendment speaker”
Assertion Not checkable as stated
Hendricks: Ted Turner viewed not creating a documentary network as a mistake
“And he always thought it was such a mistake of him because he did have the idea for a news network. He just didn't go that next step of, well, what about, you know, long form news and documentaries.”
Disclosure
Hendricks: Discovery Channel needed $1M monthly burn, $340K for satellite
“I mean, just doing the research, it was clear that I would have an expense rate of at least a million a month. Okay. And the big portion of that was the satellite transponder and uplink, which is, I recall was around 333 140,000 dollars a month.”