Discovery to purchase owner of HGTV, Travel Channel in $14.6 billion deal

Discovery Communications Inc. has reached a deal to acquire the owner of HGTV and Travel Channel.

The Silver Spring-based company announced Monday morning that it would acquire Scripps Networks Interactive Inc. in a cash-and-stock deal valued at $14.6 billion. The deal is expected to close early next year.

The combined company will have a nearly 20 percent share of ad-supported pay-TV audiences in the United States, according to Discovery.

Discovery beat out New York-based Viacom Inc. in the competition…


Author: Baltimore Checkbook

Best in consumer news and deals in Baltimore, MD.

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