Discovery Closes Scripps Networks Buy

Discovery Communications said Tuesday it has formally closed its $14.6B acquisition of Scripps Networks Interactive, creating a powerhouse of unscripted programming that CEO David Zaslav says will dominate the space it calls “real-life entertainment.”

Discovery Bets On Scripps Vet Kathleen Finch

With Scripps Networks Interactive just days away from the close of a $14.6 billion merger with Discovery Communications, Kathleen Finch is getting a much bigger assignment. On Thursday she was named the chief lifestyle brands officer of the combined company. Her portfolio will now include 11 networks, adding major nets such as ID and TLC to her existing Scripps roster as well as Discovery’s lifestyle digital studio.

Rich Ross Out At Discovery In Exec Shakeup

Discovery Communications has unveiled its new senior leadership plan for after it finalizes its $14.6 billion acquisition of Scripps Networks Interactive. The big news: Rich Ross, currently group president of Discovery Channel and Science Channel, will be leaving the company.

Discovery Gets Govt. OK For Scripps Deal

Discovery says the DOJ had concluded its investigation into the proposed merger, clearing the way for the deal to close.

EC Approves Discovery’s Scripps Acquisition

Discovery Communications said today that the European Commission has cleared its $14.6 billion acquisition of the Food Network and HGTV owner Scripps Network Interactive. The European regulatory body agreed the deal on the condition that Discovery continues to offer third-party distributors the right to broadcast Scripps’ Polish channels TVN24 and/or TVN24 BiS in the country.

Discovery To Move Headquarters To New York

Discovery Communications will move its headquarters from Washington suburb Silver Spring, Md., where it employs roughly 1,300 people, to New York at the end of next year. The move is contingent on the closing of Discovery’s $14.6 billion acquisition of Scripps Network Interactive, which is headquartered in Knoxville, Tenn. The merged company will maintain the Knoxville campus and Discovery will establish a “national operations headquarters” there.

Discovery, Scripps Shareholders OK Merger

At a special shareholder meeting today in New York, Discovery’s pending $14.6 billion acquisition of Scripps Networks Interactive got overwhelming support.

Lower Ratings Put Discovery-Scripps At Risk

Discovery’s potential $14.6 billion deal for Scripps Networks will be up against some serious headwinds and risks, according to MoffettNathanson analyst Michael Nathanson. One risk in particular is the sustainability of Scripps’ advertising growth, as 2017 has seen the programmer’s most popular networks flatten out in terms of ratings growth.

Discovery CFO Talks Cost-Cutting

Discovery Communications CFO Gunnar Weidenfels on Friday touted the company’s $14.6 billion deal to acquire Scripps Networks Interactive, a deal that aims to bring together the two cable networks firms known for non-scripted and lifestyle content by early 2018. “There’s a lot of synergy potential on the cost side,” he told an investor conference.

Discovery Buys Scripps Networks For $14.6B

The combined company will have nearly 20% of ad-supported pay-TV viewership in the U.S. It becomes home to five of the top female networks in ad-supported pay-TV with over 20% share of women watching primetime in the U.S. The merged company will deliver more than 7 billion monthly streams.

 

Discovery Nears $12B Deal For Scripps Nets

Discovery Communications is nearing a deal for at least $90 a share to acquire Scripps Networks Interactive, after Viacom’s all-cash bid was rejected, according to multiple reports. The deal would be valued at little more than $12 billion and could be completed next week.

Viacom Out Of Chase For Scripps Networks

Viacom Inc. is no longer in the bidding for Scripps Networks Interactive, according to people familiar with the situation, leaving the owner of cable’s Food Network and HGTV to negotiate exclusively with Discovery Communications, the other media company pursuing a tie-up.

Viacom Considers Scripps Nets Acquisition

Since taking over as Viacom’s chief executive last year with the blessing of powerful shareholder Shari Redstone, Bob Bakish has been working to win over Wall Street with moves meant to stabilize the embattled entertainment giant. Now, The Wall Street Journal reports, Bakish is contemplating what would be his boldest bet yet: an acquisition of rival media outfit Scripps Networks Interactive. Members of the Scripps family are expected to meet Tuesday to discuss a potential sale, according to people familiar with the matter. WSJ subscribers can read the full story here.

Scripps Talks Are Advanced, Deal Seen Soon

Negotiations to acquire media company Scripps Networks Interactive are advanced and a deal could be announced as soon as this month, people familiar with the matter say. Both Discovery Communications and Viacom are vying to buy Scripps, and are likely to fund the deal with a mixture of cash and shares, the people say, asking not to be identified as the details aren’t public. No final decisions have been made and talks may still fall apart, they add.

Discovery, Scripps Networks In Merger Talks

Shares in cable television programmers Discovery Communications and Scripps Networks Interactive jumped late Tuesday in after-market trading following reports that the two companies were once again trying to merge.

FuboTV In Carriage Deal With Scripps Nets Interactive

FuboTV, a live streaming TV service, today announced an agreement with Scripps Networks Interactive that will add several top U.S. channels to the company’s entry-level bundle.  As a result of a new, multiyear carriage agreement, Scripps Networks’ U.S.-based brands HGTV, Food Network and Travel Channel will join the “Fubo Premier” line-up, which is currently available at an introductory rate of $34.99 per […]

OTT

FuboTV Scores $55M From Fox, Scripps

FuboTV, the sports-centric streaming TV subscription provider, has raised $55 million in funding from investors including 21st Century Fox, Scripps Networks Interactive, and the U.K.’s Sky. The sizable round brings the New York-based startup to $75.6 million raised to date. The company will use the capital infusion to expand programming, marketing and infrastructure.

Scripps Networks Adds Phil Kent To Board

Scripps Networks Interactive today announced that Philip I. Kent will be nominated for election to the company’s board of directors at its annual shareholder meeting in 2017. Kent served as CEO of Turner Broadcasting System from 2003 to 2013. He will succeed director David Galloway, who will be retiring from the board. Galloway will leave […]

Scripps Networks Ups Page, Taylor, Driver

EARNINGS CALL

Scripps Networks Won’t Renew Netflix Deal

Scripps Networks Interactive will not be renewing a streaming deal with Netflix when it expires at year’s end, COO Burton Jablin said on the company’s earnings conference call Monday. He explained that the company made the “strategic decision” because the arrangement does not provide the kind of dual revenue model that Scripps feels best monetizes its content.

Scripps, Tribune Extend Food Network Partnership

Scripps Networks Interactive and Tribune Media today announced a multi-year extension of their Food Network partnership agreement. Financial terms of the agreement were not disclosed. “Food Network is the strongest food media brand across the globe and continues to grow its footprint around the world,” said Kenneth W. Lowe, chairman, president and CEO of Scripps […]

Scripps Plans 6-Network Halloween Special

PLAYOUT

SNI To Deploy Pebble Beach Ingest, Playout Solution

Ahn Named Scripps Networks Interactive Prez

Scripps Buys Control Of Poland’s TVN For $615M

Yahoo Said Interested In Buying Cable Ch.

Here is a perhaps crazy idea that sources say Yahoo CEO Marissa Mayer and her top executives have considered for saving the company: buying cable networks. Mayer and Yahoo considered acquiring Scripps Networks Interactive and may have actually begun M&A discussions with Scripps regarding at least two potential deals. In addition, Yahoo may have interest in buying CNN.

Dish Nabs Scripps Nets For Web TV Service

Satellite guru Charlie Ergen is rapidly gathering content for his new Internet-based TV offering. Ergen’s Dish Network said Tuesday it secured new digital rights to offer Scripps Networks Interactive programming through its yet-to-launch online video service. The satellite TV provider said the rights are part of an expanded distribution deal to carry Scripps stable of lifestyle channels, including HGTV, Food Network and Travel Channel.

ALLEN & CO. CONFERENCE

Scripps Nets Looking For Corporate Partner

Pure-play cable company Scripps Networks Interactive is shopping for a partner, according to well-placed sources. Ken Lowe, CEO of Scripps, which owns HGTV, Food Network and Cooking Channel, has been holding conversations about such a deal at the Sun Valley mogulfest, these sources say.

Discovery’s Interest In Food Net Lifts Scripps

Shares of the Food Network’s parent company were a much sought-after dish Wednesday after a report that Discovery Communications was discussing acquiring the menu-making cable programmer. Scripps Networks Interactive stock spiked 7.6% to $81, in heavy trading as investors looked to get in on what could be a super-premium bid.

Discovery Mulling Bid For Scripps Networks

Discovery Communications is considering a bid for Scripps Networks Interactive, parent company of Food Network, HGTV, Travel Channel and other lifestyle-oriented cablers. A source with knowledge of the situation said the prospect of Discovery making a run at Scripps Networks was discussed Tuesday at a Discovery board meeting.

Two Media Mainstays Expand Video Presence

Scripps Networks Interactive and magazine publisher Meredith Corp. are expanding their presence in online video, producing more original Web series as they follow consumer eyeballs and advertiser dollars.

SNI Announces $1 Billion Share Repurchase

Scripps Networks Interactive Inc. today announced that its board of directors has authorized a $1 billion share repurchase program. Scripps Networks Interactive’s media portfolio includes lifestyle television and Internet brands HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and country music network Great American Country.   As part of this program, the company agreed […]

QUARTERLY REPORT

Scripps Networks Ad Gains Boost 1Q Profit

U-Verse Boots Scripps Nets In Carriage Duel

AT&T Inc’s 2.7 million U-verse television customers lost access on Friday to Scripps Networks’ popular channels like the Food Network after negotiations over programming fees collapsed.