Discovery emerges as sole bidder for Scripps

By Prasun Bose

Discovery is closing in on a $12bn deal for Scripps after fighting off a rival bid from Viacon, according to reports.

It was understood on Wednesday that Viacom were lining up an all-cash offer for its rival network but Discovery is now ahead with its $90 per share on the table.

Scripps, which operates channels such as HGTV, Food Network and Travel Channel, is valued at just over $10bn and engages with more than 190 million consumers every month.

See also:

It had already entered discussions with Discovery, owner of the Discovery Channel, TLC and Animal Planet, about a deal that was previously on the table in 2014 - but that fell through.

Talks are still ongoing about smaller details but the deal - understood to be 70% cash and 30% stocks - is edging closer, though an announcement isn't expected until next week.


Featured Articles

Why companies should be preparing for scope 3 reporting

With a decision looming on the SEC’s proposed changes to climate-related disclosures, leaders should be examining supplier sustainability credentials

People over profit is steering business in a new direction

An unsettling few years has resulted in more and more companies hiring Chief People Officers to implement a culture that prioritises employee wellbeing

Databricks: The phenomenal rise of a data and AI heavyweight

Founded a decade ago, Databricks is on a mission to help data teams solve the world’s toughest problems using tools including its Lakehouse Platform

Business Chief expands portfolio with new look and coverage

Leadership & Strategy

Google at 25: The remarkable rise of a technology colossus

Technology & AI

Mind the Gap – fashion retailer Uniqlo targets US market

Corporate Finance