Discovery to acquire Scripps Networks in $11.9-billion deal – Los Angeles Times

Discovery Communications and Scripps Networks Interactive have reached an $11.9-billion deal to combine, a move aimed at creating a bulwark to withstand the challenges facing the television industry.

Discovery plans to acquire Scripps — the owner of HGTV, Food Network and the Travel Channel — in a cash-and-stock transaction that was announced early Monday. The combination would create a bulked-up programming company commanding nearly 20% of cable viewership in the U.S. and significant growth prospects internationally.

The proposed marriage of the two cable programming companies comes after two failed attempts to merge. However, this time the companies were spurred to combine because it has become increasingly difficult for medium-sized independent media firms to stand on their own.

The Discovery-Scripps combination would create a more formidable entertainment company, one with several must-have cable TV channels. The deal is expected to close in early 2018.

Discovery to acquire Scripps Networks in $11.9-billion deal – Los Angeles Times

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