1. Digital Media Operations Review July 29, 2010

4. OVERVIEW +12% -7% Net Revenue ($ in millions) CAGR `08-`10 = 2% AOIBDA ($ in millions) +48% +63% Net Revenue Drivers ($ in millions) AOIBDA Drivers ($ in millions) CAGR `08-`10 = 56% Other includes production & G&A expense cut-backs offset by increased behavioral targeting expenses

5. 2010 OBJECTIVES: FY 2010 FORECAST

6. 2010 PROGRAMMING HIGHLIGHTS

9. SITE PERFORMANCE 1H10 [1] Includes Domestic and INTL for US Nets; Domestic only for HSW [2] Q2 Average SOURCE: Omniture June: Record month in Video Impressions - 21.5M O&O (+73% v. LY) 1H 2010 Avg Monthly UVs Display Impressions[1] Video Impressions [1] Actual 40.6M 3.9B 106.8M Plan 39.4M 4.0B 89.5M % Variance to Plan 3.1% (1.2%) 19.3% LY 37.8M 4.0B 65.7M % Growth YoY 7.5% (0.7%) 62.5%

10. TRAFFIC AND INVENTORY FORECAST – 2010* *Ranked by Total Video IImpressions [1] Includes only O&O performance [2] Includes Discovery News [3] SCI, MIL, ID, DHLTH, PG [4] Includes domestic IMPs on HSW only SOURCE: Omniture Avg. Monthly UVs Total Display IMPs Total Video IMPs [1] MM Vs 2009 MM Vs 2009 MM Vs 2009 Discovery.com [2] 6.4 16.2% 970.8 (3.9%) 72.4 72.4% TLC.com 3.2 10.9% 530.2 (35.4%) 66.1 68.0% AnimalPlanet.com 2.0 14.9% 496.2 0.2% 62.9 106.5% Emerging Nets [3] 3.6 12.8% 845.7 (22.1%) 20.3 37.4% HowStuffWorks.com [4] 17.2 6.6% 1,464.4 2.2% 13.4 (10.8%) Petfinder 4.9 5.6% 3,343.0 1.9% 1.1 71.7%- TreeHugger 3.2 8.4% 351.1 23.2% -- -- Total 40.5 9.3% 7,639.6 (3.6%) 236.1 66.1%

22. APPENDIX

23. ORGANIC GROWTH TIED TO RATINGS DSC UVs vs Ratings – Jan 2008 to Jun 2010 APL UVs vs Ratings – Jan 2008 to Jun 2010 TLC UVs vs Ratings – Jan 2008 to Jun 2010

24. 1H 2010 ACHIEVEMENTS: VS BUDGET AND PY