Discovery inks deal for new Silver Spring hub

Discovery Inc. (NASDAQ: DISCA) might be moving its headquarters to New York City, but it just inked a deal to establish a smaller hub in Silver Spring not far from its current home.

The publicly traded media company has signed a lease for about 60,000 square feet with Brookfield Properties at its Silver Spring Metro Plaza. The new space, at 8403 Colesville Road, is about two-tenths of a mile from 1 Discovery Plaza, the headquarters building it sold Wednesday to a partnership of Fougler-Pratt and Cerberus Capital Management.

“We are excited to be able to keep a presence in Silver Spring to continue to support and draw from the robust Maryland and D.C.-area production community that has developed alongside Discovery over the past 35 years,” Discovery spokesman David Leavy said in a statement.

Discovery announced plans in January to move its headquarters to New York, but in so doing, promised to maintain a presence in both Maryland and Virginia. The new Silver Spring location will serve…

Read the full story from the Washington Business Journal.