Updated with corrected information on the value of the deal.
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.
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.
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