An eye for Discovery.

The CBS Corporation recently agreed to take Discovery Communications on as a partner in its 24-hour cable channel CBS Eye on People. When the agreement is finalized, Discovery will become a managing partner in the channel, which will be rechristened Eye on People. Discovery will also fund future investments in the 50-50 joint venture.

Interestingly, Discovery discussed the idea of a channel about people with CBS a decade ago. CBS went on to launch CBS Eye on People in 1997; the channel now reaches more than 11 million homes via cable and DBS.

John Hendricks, founder, chairman and CEO of Discovery, believes that Eye on People will be "a perfect extension of Discovery's nonfiction networks." CBS President and COO Mel Karmazin feels that the addition of Discovery's strategic resources will help Eye on People become profitable and will give the channel a broader reach.