Noviembre 13, 2019

Sharks, Meet Chefs: Discovery To Buy Scripps, Acquiring Food Network And HGTV

01 Agosto 2017, 10:11 | Azura Castelo

Discovery Communications has bought Scripps Networks Interactive. owner of HGTV and the Food Network. Andrew Harrer Bloomberg

Discovery Communications has bought Scripps Networks Interactive. owner of HGTV and the Food Network. Andrew Harrer  Bloomberg

A Discovery Communications spokeswoman said Monday afternoon that there were no decisions on office locations since the company announced a $14.6 billion deal to acquire Scripps Networks Interactive, the owner of channels such as HGTV, Food Network and Travel Channel.

The combined company will have nearly 20 percent of the ad-supported pay-TV viewership in the USA, according to the statement.

After the transaction is completed, Scripps' shareholders will own approximately 20 percent of Discovery and Discovery's shareholders will own approximately 80 percent. Discovery has more than $6 billion in annual sales and 7,000 employees.

It also highlighted the broadened global reach, combining Scripps' strength in countries like the United Kingdom and Poland, with "growth areas" like Discovery's Home and Health network in Latin America. Discovery expects the combined group to create cost synergies of US$350 million. Scripps chairman, president and CEO Kenneth Lowe is expected to join the Discovery board. Discovery and Scripps could also make its own "skinny bundle" streaming service of lifestyle channels for about $10 to $15 a month, Zaslav said.

Like all deals that involve the media mogul John C. Malone, who holds a voting stake in Discovery, this one is problematic. The combined company will claim 20 percent of primetime female viewership. In 2014, the two media companies had considered a merger until the Scripps family reportedly called things off.

The agreement would add to consolidation in the telecommunications and media industries, as TV companies seek to better compete with cable and broadband providers. The company's 50-day moving average is $26.21 and its 200-day moving average is $27.38. The company's quarterly revenue was up 2.2% on a year-over-year basis. Comerica Bank increased its position in shares of Discovery Communications by 4.1% in the fourth quarter. (NASDAQ:SNI)'s stock on Friday traded at beginning with a price of $86.02 and when day-trade ended the stock finally surged 0.58% to reach at $86.91. "In all seriousness, this deal combined with Q2 results suggests how tough the cable net business has become". In the last earnings report the EPS was $1.91 and is expected to be $2.26 for the current year with 443,000,000 shares presently outstanding.

"While cost synergies are pretty obvious to us, we continue to believe the most compelling industrial logic is from worldwide distribution", RBC Capital Markets analys Steven Cahall said in a July 28th note.

Otras noticias

Tendencias Ahora

Wenger: Alexis Sanchez to return to Arsenal training
Manchester City are prepared to hand Alexis Sanchez a deal worth in the region of £320,000-a-week, making him their top earner. And they are also looking for an answer from Arsenal and Giroud over the striker's future before they look elsewhere.

Trump calls for end to filibuster, says Senate Republicans 'look like fools'
The House of Representatives has already gone home for its August break and the Senate is expected to do the same by mid-August. Never hugely popular, "Obamacare" actually saw an increase in support as the "repeal and replace" debate intensified.

Game of Thrones Showrunners Discuss [SPOILER]'s Season 7 Death Scene
When Sansa attempts to inform him that she knows what she's doing, he offers some sage advice for which he himself survives by. Just like with most Littlefinger speeches, this one teeters between being creepy and genuinely insightful.

Ben Stokes stands firm for England after Alastair Cook exit
When rain led to an early lunch on the third day, England were 20 without loss in their second innings - a lead of 198 runs. Only 37 overs were bowled on Saturday, the evening session totally washed out as clouds gathered over south London .

US Bombers Scrambled After N.Korean Missile Test
Security Council, saying that new sanctions that fail to increase pressure would be "worse than nothing". The THAAD deployment has infuriated China , which has long argued it will destabilize the region.

AMD Radeon RX Vega Graphics Card Unveiled
Selected Samsung displays that support Radeon Free-sync technology are also available as an option to complete your gaming rig. Up until this point, AMD has given us just a small taste of what to expect when it comes to performance of Radeon RX Vega 64 .

IPhone 8: Apple software reveals plans for 'Face Detect'
Perhaps most importantly, the graphic looks identical to the design of devices that have leaked online in recent months. But two of the handset's previously rumored features now appear to have been inadvertently confirmed by Apple itself.

Trump pressuring Republicans to vote again on healthcare bill
The number of insurance companies offering plans in the exchanges has steadily declined as their ObamaCare losses mounted. No matter what the administration does, the holdout states need to go ahead and accept the ACA's expansion of Medicaid.

Congress moves to make Mueller fire-proof
The president signals that he will replace Sessions and, while Congress is in session, this will require confirmation hearings. Sessions , an early supporter of his boss President Donald Trump , recently has faced open criticism from the president.

GoT 7 The Queen's Justice: Cersei Takes Revenge As Daenerys Keeps Faith
The Stark reunion: Long lost in life and in vision, Bran Stark finally returned home to Winterfell and met fierce sister, Sansa . Dany will give Jon the dragonglass , and eventually it's assumed that Jon will honor Dany as the rightful heir to the throne .