It appears Bob Guccione Jr. has sold Discover Media's website address:
Quote: "While most print companies are desperately trying to become multi-platform companies, Discover Media sold off its discover.com Web address to Discover Card for about $5 million."
Not buying an obvious generic name is one thing ...but selling your existing address to raise cash is poison ... Particularly so if you're in the "publishing" business.
Now his company gets to rebrand, recreate search engine links and reputation .. old archived stories would have to be republished and re-indexed. Quite a potential mess depending on how active the discover.com domain was.
This is the equivalent of having the gold in the palm of your had and giving it away because you didn't understand what you had. Completely foolish.