Discovery and Scripps Restart Deal Talks
Shares surge on talk of Scripps merger with Discovery Communications
Discovery Communications (DISCA) - Get Report and Scripps Networks (SNI) shares were indicated sharply higher in premarket trading Wednesday after the Wall Street Journal reported the pair have resumed merger discussions.
Both WSJ and Reuters have cited sources in reports stating that Viacom (VIAB) - Get Report has also explored the idea of acquiring Scripps, which owns the Travel Channel, HGTV and the Food Network.
Scripps stock was indicated more than 14% higher, at $76.85, in premarket trading while Discovery was seen up more than 7% at $28.11.
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