Internet TV network Revision3 has been acquired by Discovery Communications

We’ve heard rumors of this, but now it’s been confirmed by Discovery. The company has acquired geek-centric Internet TV giant Revision3 for an undisclosed sum. Rumors price the acquisition at around $30 million, which could be considered a bargain given the hot shows that Revision3 hosts and the mere $9 million that the company had raised.

Revision3 was the headed by CEO Jim Louderback, and founded by Kevin Rose, Jay Adelson and David Prager in 2005. The site has earned quite the reputation for its agnosticism about distribution, being equally at home on networks such as Odeo and Boxee as it is on Bit Torrent and via its own sites.

The staff of Revision3 has reportedly been offered the ability to stay in place, with a sizable payday expected for each of them. Given Discovery’s push into the “new media” branches, it’s not a surprising acquisition for the stalwart edutainment company which has recently signed distribution deals with both Netflix and Amazon’s video on demand services.

Revision3 was made famous by the Diggnation show, hosted weekly with Kevin Rose. After the show ended it was expected that the network would falter, but a massive 2011 clocked 800 million worldwide views for Revision3. With rumors now flying about a Washington Post acquisition of Digg’s technology and staff, it seems that Revision3 ended up being the lasting spawn of the once-giant Internet property.

Famous for shows such as Tekzilla and my personal favorite, GeekBeat.TV, Revision3 has recently found itself acquiring a broader base of viral content, including the YouTube sensation Epic Meal Time.