Wednesday, 19 July 2017

Scripps takeover: Discovery eyes Scripps acquisition

Story from Broadband TV News:

Discovery Communications is in talks to buy Scripps Networks Interactive, according to a report by Reuters.

Quoting two people familiar with the matter, it adds that Viacom has also held talks to buy Scripps.

In the case of Discovery, whose owners include John Malone, this is at least the third time that it has held such talks.

Scripps operates HGTV and the Travel Channel and also has a majority stake in the Food Network.

In addition, it owns TVN, one of the two leading commercial broadcasters in Poland. Reuters notes that Scripps is looking for a buyer at a time when it and other smaller ones are under pressure to grow in order to give them negotiating power with cable and satellite companies.

Were it to go ahead, a deal with Discovery would create a $19 billion company that specialises in non-scripted shows. Reuters also says that Scripps has been considered a take-over target since it stopped being controlled by the Scripps family trust five years ago.

In January 2014, it reported that talks between Discovery and Scripps had been abandoned.

However, they had only been exploratory in nature and Discovery had not made a bid.

What do Scripps own in the UK and Ireland:
  • Food Network
  • Travel Channel
  • UKTV (Own 50% with BBC Worldwide own the rest).

© 2017 Broadband TV News LLP.