Discovery Communications and Scripps Networks Interactive have collaborated for mostly non- scripted and lifestyle content. Discovery will obtain Scripps in cash and stock agreement. It is an amalgamation of two strong brands including women oriented networks and providing more international option for Scripps business. Compared to Scripps, Discovery has been a global player for a longer time therefore this gives the merged team an upside in digital and direct to consumer services.
Scripps runs HGTV, Travel Channel and Food Network, among others, while Discovery’s networks include the likes of Discovery Channel, Animal Planet, TLC and OWN. The companies reiterated that they would generate a global leader in existent life entertainment and surgedevelopment across linear digital and short form stage around the world.
Scripps shareholders will end up owning 20 percent of Discovery, which will also take on Scripps’ net debt of approximately $2.7 billion in the deal. Viacom has also been following Scripps but it yielded out of the bidding process creating way for Discovery. It had held talks in 2013 and 2014 with Scripps but Scripps family was not ready at all.
This is definitely an exhilarating time for Discovery as Scripps is one of the best operated media firms in the world. It has one of the world’s tremendous forte, strong proprietary and saleable talents and formats. The business consists of great narrative, original characters and ardent super fans. Scripps and Discovery will together create a compelling, adaptable, and spirited media firm. It will focus on global content which can be totally developed and legitimized across their combined networks, products and services globally.