Market Pulse Archives

July 31, 2017, 7:01 a.m. EDT

Discovery to buy Scripps in deal valued at $14.6 billion, including debt

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Ciara Linnane


Discovery Communications Inc. said Monday it has reached agreement to buy Scripps Networks Interactive Inc. in a cash-and-stock deal valued at $14.6 billion, including $2.7 billion of debt. Discovery will pay $90 a share, or 34% over Scripps' unaffected share price as of July 18. The deal is expected to close by early 2018. The combined company will produce about 8,000 hours of original programming annually and be home to about 300,00 hours of library content. It will have almost 20% share of ad-supported pay-TV audiences in the U.S. Discovery is the owner of Discovery Channel, TLC and Animal Planet, among others, while Scripps is owner of HGTV, Food Network, Travel Channel among others. The deal is expected to generate about $350 million in synergies. Scripps shares rose 1.2% premarket, while Discovery was not yet trading. Scripps shares have gained 22% in 2017, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.04% has gained 10%.

-43.28 -1.04%
Volume: 0.00
Feb. 3, 2023 4:54p

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.