The merger between Discovery Communications and Scripps Networks Interactive has succeeded. There had been rumours of a strong involvement of Viacom and the US billionaire John Malone’s company (in the photo) to Scripps for days and now we know that the latter won the day. 14.6 billion dollars have been offered to cover the debt of 2.7 billion dollars, so Discovery will pay 90 dollars per share: it representsa 34 percent premium over the closing price on July 18, the date when talks about the transaction that should conclude early next year became known, after the approval of the shareholders of both companies. The media company headed by CEO David Zaslav had already tried to get his hands on Scripps Networks Interactive before, but he couldn’t. Scripps Networks Interactive, the 3.4 billion-dollar giant in revenues in 2016 and with a profit of 673 million dollars, active in the sector of lifestyle TV content and specialised in home, food and travel programmes on TVand on the web, edits very famous brands in the USA such as HGTV, Cooking Channel, Travel Channel and Food Network. The merger with Discovery founded a combined reality of ten billion dollars in revenues.
Discovery conquers Scripps Networks
