Discovery Streaming Boss Peter Faricy to Exit, Role to be Filled by Trio of Execs

Peter Faricy is leaving as Discovery’s global head of streaming, with his role being filled by three different executives.

Chief technology officer Avi Saxena will assume oversight of Food Network Kitchen and lead the product strategy for Chip and Joanna Gaines’ Magnolia, which is a co-venture with Discovery. Karen Leever will continue to oversee Discovery’s TV Everywhere business, while Lisa Holme will retain responsibility for all the content and programming.

Faricy joined Discovery two years ago from Amazon and has served as CEO of the global direct-to-consumer unit. Deadline first reported the news of Faricy.

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Discovery has viewed streaming differently than its competitors, choosing to launch smaller, more targeted services vs an “all-in-one” bundle like a Disney+ or HBO Max. Last October, Discovery partnered with Amazon on Food Network Kitchen, a $7-a-month streaming service focused on cooking recipes and tips.

Magnolia, the upcoming cable network from the “Fixer Upper” stars, is launching later this year in a rebrand of DIY Network. It was supposed to debut in October but was delayed amid the coronavirus pandemic. When it does launch, it will include a TV Everywhere app and is planning a subscription streaming offering in the next year.

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