Television | Knoxville, TN | Corporate Acquisition
Discovery Communications has agreed to acquire Scripps Networks Interactive in a cash-and-stock transaction valued at $14.6 billion, including the assumption of Scripps’ net debt of $2.7 billion. Priced at $90 per share, the deal represents a 34% premium to Scripps’ unaffected share price on July 18. The deal will create a combined company with a nearly 20% share of ad-supported pay-TV audiences in the US. Discovery (NASDAQ: DISCA) stock dropped over 8% Monday.