Discovery Agrees To Pay $14.6B For Scripps Networks Interactive

The company behind Shark Week just caught a whale: Discovery Communications has agreed to pay $14.6 billion in stock and cash for Scripps Networks Interactive, the programmer best known for HGTV, the Food Network, and the Travel Channel.
The $90 a share price represents a 34% premium over Scripps trading price on July 18, when word got out of the companies’ talks. Scripps is up 1.2% in pre-market trading today.
The key shareholders are on board. Discovery’s top owners…


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