Discovery Communications has signed a deal to buy Scripps Networks Interactive in a cash-and-stock transaction valued at $14.6bn, a deal that will push the TV giant’s reach to nearly 20% of ad-supported pay-TV audiences in the US, it claims.
The transaction, expected to close in early 2018, will see Discovery pay Scripps shareholders approximately $90 a share, representing a 34% premium to the company’s most recent closing price.
It will see Discovery’s assets, which includes Discovery Channel, TLC, Animal Planet, and Eurosport, combined with Scripps’ channels, including HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel Read full story ›
Source: The Drum
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