Discovery Communications Gobbling Scripps: Reports
Updated with corrected information on the value of the deal.
After some months of well-publicized dickering, Discovery Communications Inc. (DISCA) - Get Discovery, Inc. Class A Report is close to acquiring Scripps Networks Interactive Inc. (SNI) .
The deal would create a combination that could give the company more leverage with cable providers, according to Reuters.
Discovery has asked Scripps to dance several times over the years.
The $12 billion dollar deal would roll together Discovery's Animal Planet and Discovery Channel with Scripps' HGTV, Travel Channel and Food Network content providers.
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The deal, if completed, would rest on paying about $90 per share for Scripps, Reuters says:
The potential content aggregation could give Discovery more power to negotiate with cable providers that are always looking to increase the size of their packages.
Viacom (VIAB) - Get Viacom Inc. Class B Report has also showed interest in the company.
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