Discovery Communications, the owner of Discovery, Animal Planet, Eurosport and many others channels, has reached an agreement to acquire Scripps Networks Interactive for $14.6 billion. Scripps owns a number of channels for cooking, home improvement and travel.
The deal is valued at about $90 per share, that is 34 percent higher than the price of Scripps stock before the rumors about a possible merger appeared in the mass media. The deal is expected to closed in early 2018.
The combined company will cover almost 20% of the U.S. total cable audience and will produce about 8,000 hours of original video content per year.