Discovery mulls Scripps bid

Reports have emerged in the US that Discovery Communications is considering a bid for non-fiction television specialist Scripps Networks Interactive.

The Scripps family trust that controlled the company ended in 2012, increasing the possibility of a takeover. Scripps Networks Interactive was spun off from publisher E.W. Scripps in 2008.

Discovery has aggressively expanded overseas lately, acquiring ProSiebenSat.1 Media’s Nordic assets for $1.7 billion earlier in 2012 and taking a a 20 per cent stake in sports network Eurosport for $221.6 million in a December 2012 deal with French broadcaster TF1 encompassing the building of a three-tier strategic alliance across Eurosport, four pay-TV channels and production.

Scripps acquired a 50 per cent stake in the UKTV bouquet of channels from UK cable MSO Virgin Media in August 2011. News mid-October 2012 of the loosening of the family trust’s interest in the company gave rise to takeover speculation at the time.

Posted by on Dec 11 2013. Filed under Articles, Business.

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