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Discovery is buying Scripps Networks Interactive for $14.6 billion

Shard

XBLAnnoyance
http://www.businessinsider.com/discovery-buying-scripps-networks-interactive-for-146-billion-2017-7

(Reuters) - Discovery Communications Inc is acquiring Scripps Networks Interactive for $14.6 billion in a deal that is expected to boost the combined company's negotiating leverage with pay TV operators at a time when more people watch video online, the companies said on Monday.

The acquisition, which was completed last night, brings together Scripps' largely female audience of lifestyle channels such as HGTV, Travel Channel and Food Network with Discovery's Animal Planet and Discovery Channel, which primarily has male viewers.

With the acquisition, Discovery can cut costs and use Scripps's shows to further its international reach. The combined company's larger programming slate might also provide leverage in negotiations for inclusion in skinny bundles, or economy-priced cable packages that offer fewer channels than a standard contract.

The combined company will have 20 percent total cable viewership, according to a recent Barclays note. That will strengthen its negotiating stance when renewing contracts with distributors. By adding Scripps programming, Discovery could also launch its own "skinny bundle" of networks at a low cost.

U.S television networks and cable providers are under pressure as more viewers watch their favorite shows and movies on phones and tablets. There is also increased competition for viewers from streaming services such as Netflix Inc and Amazon.com Inc.

This marks at least the third time that Discovery, whose shareholders include cable magnate John Malone, has tried to buy Scripps. Discovery outbid Viacom Inc for Scripps, which Reuters first reported Wednesday.
 

Sulik2

Member
Great, more media company consolidation. I really wish someone in the anti-trust agencies of the US Gov would stop rubber stamping mergers and start looking at breaking up companies again. Monopolistic practices have become pervasive in all fields of business in the USA and nothing is being done about it.
 

Previous

check out my new Swatch
I'm not sure how doubling the number of cable stations you own is going to help you compete against non-cable entertainment. They should of started their own streaming service years ago.
 

Previous

check out my new Swatch
They'll be getting Earwolf too, that's something

Nope, thats the other Scripps.

https://en.wikipedia.org/wiki/E._W._Scripps_Company
On October 16, 2007, the company announced that it would separate into two publicly traded companies: The E. W. Scripps Company (newspapers, TV stations, licensing/syndication) and Scripps Networks Interactive (NYSE: SNI), (HGTV, Food Network, DIY Network, Cooking Channel (formerly known as Fine Living), Travel Channel and Great American Country). The transaction was completed on July 1, 2008.
 

Mesoian

Member
I'm not sure how doubling the number of cable stations you own is going to help you compete against non-cable entertainment. They should of started their own streaming service years ago.

While you're not wrong, at least Scripps demographic seem to gel better with people who have no interest in being active in finding their entertainment.
 

Link

The Autumn Wind
I'm not sure how doubling the number of cable stations you own is going to help you compete against non-cable entertainment. They should of started their own streaming service years ago.
It's not. The point is to stem off their losses by demanding more from the cable companies for their channel packages. So expect blackouts while they negotiate, and then a higher cable bill when they decide to pass the extra costs onto consumers.

Let's hear it for the free market!
 
Surprised this thread is so small. It's a pretty big acquisition and merger that dwarfs Sony's buyout of Funimation. I guess people don't know much about Discovery and Scripps though.
 

Captiosus

Gold Member
Ugh. I look forward
/s
to Discovery polluting Food Network and Cooking Channel with their crossovers and other bullshit.

Deadliest Catch/Cutthroat Kitchen: From Pot to Plate (Guest Starring Jonathan Hillstrand and Sig Hansen).
 

jayu26

Member
All those reality shows bring in big money huh? I hate what Discovery channel has become.

Makes me wonder how much money History channel made by putting this dude on television...
 

smurfx

get some go again
i bailed on discovery back when they bad a bunch of motorcycle shows. i even kinda liked some of them but i got bored.
 
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