Scripps and Discovery Said to Be in Talks as Media Companies Seek Size
By MICHAEL J. de la MERCED and EMILY STEELJULY 19, 2017
The parent company of HGTV and Food Network has held discussions about selling itself to Discovery Communications, people briefed
on the matter said on Wednesday, raising the prospect of further consolidation in a rapidly changing media industry.
Discovery, which is backed by the cable mogul John C. Malone
and the Newhouse family, has been an active deal maker since the collapse of the Scripps talks three years ago.
It is unclear whether Scripps will choose to complete a deal this time around, given
that it held talks with Discovery three years ago and backed away.
The two companies held talks to combine several times — most recently in 2014 —
though those discussions fell apart over a range of issues, including price.
Shares in Discovery were up nearly 5 percent, giving the company a market value of about $15.5 billion.
The broadcaster, Scripps Networks Interactive, has also held sale talks with other suitors, one of these people added.