Blockbuster Deal in Cable Television, Discovery Buys Scripps
Discovery Communications
(DISCA) - Get Discovery, Inc. Class A Report says it will buy Scripps Networks
(SSP) - Get E. W. Scripps Company Class A Report . It's a $14.6 billion dollar deal, $90 a share. Scripps owns The Food Network, HGTV and others. Discovery owns The Discovery Channel, TLC and Animal Planet.
General John Kelly will be sworn into his new job as White House Chief of Staff. He replaces Reince Preibus who resigned last week. It is hopes that Kelly will bring order to the administration. He also takes over as North Korea tested another Intercontinental Ballistic Missile over the weekend and Russia is retaliating, cutting U.S. diplomats, over sanctions imposed by the United States. Lowe's (LOW) swung to a profit in the recent quarter. The home improvement retailer reported a profit of $231 million versus a loss of $65 million a year ago. Home improvements retailers have, so far, been Amazon-proof and have benefited from a recovering housing market.
Watch More with TheStreet:
- Tesla's Elon Musk Is All Jokes as the Model 3 Accelerates into "Production Hell"
- How Do HGTV and Food Network's Biggest Stars Make Their Money Off-Camera?
- Take a Look at Wall Street's Sexiest Terms
- Rolls-Royce Phantom VIII Unveiled, CEO Says Customers Love Gold
