MUMBAI: Media companies Scripps Networks and Discovery Communications are reportedly in merger talks, supposedly revisiting a probable deal that did not materialise around three years ago.
Channels of Scripps, which has a market value around US$ 8.8 billion, are -- HGTV, Travel Channel and a significant major stake in Food Network. It has been seeking a purchaser when it is under pressure to grow, Reuters reported sources as saying. Discovery, which has around US$ 15 billion market value, telecasts a channel by the same name, as well as others such as Animal Planet and TLC, the WSJ added.
Reuters sources added that Viacom Inc also was in discussion to buy Scripps. All three companies denied comment.
A deal between Scripps and Discovery may lead to creation of a US$19-billion cable network that primarily concentrates on non-scripted shows.
Discovery CEO David Zaslav had said that there were discussions about potential deals at a time when broadband and cable companies were merging and need content to de-commoditise and differentiate that pipe. RBC Capital Markets' Steven Cahall had said that a combination of the non-fiction programmers made good sense.
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