Economic news

Discovery to buy Scripps Networks for $14.6 billion

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.

To leave a comment you must or Join us

More news

Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree