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…