Discovery to Buy Scripps, Owner of Food Network, in $11.9 Billion Deal
The combined company would control about 20 percent of the advertising-supported pay-television audience in the United States,
and it could create a force in television popular with female viewers, bringing together the Scripps channels and Discovery offerings including Investigation Discovery, OWN and TLC.
By EMILY STEELJULY 31, 2017
NEW YORK — Discovery Communications announced on Monday an $11.9 billion deal to buy Scripps Networks Interactive, the owner of Food Network and HGTV.
“We believe that by coming together with Scripps, we will create a stronger, more flexible
and more dynamic media company,” David M. Zaslav, chief executive of Discovery Communications, said in a statement
The companies held talks to combine several times — most recently in 2014 — although
those discussions fell apart over a range of issues, including price.
