Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

WSJ: Scripps family voting on possible network sale to Viacom, Discovery

Published 07/25/2017, 12:46 PM
© Reuters.  WSJ: Scripps family voting on possible network sale to Viacom, Discovery
WBD
-
PARA
-
VIA_old
-
SNI
-
  • The Scripps family, which controls almost 92% of voting control of Scripps Networks Interactive (SNI +4.2%), is voting today to discuss a possible sale to Viacom (VIA, VIAB) in what would be the latter's biggest bet yet since Bob Bakish took the helm, or to Discovery Communications (NASDAQ:DISCA).
  • That's according to a Wall Street Journal report. VIAB is down 2.3% on the news; VIA -2.3%. DISCA is 1.6% lower.
  • SNI's lifestyle brands aren't an exact fit with Viacom's core youth- and reality-focused programming, but could give Viacom a stronger hand in increasingly competitive channel carriage talks.
  • SNI and Discovery were reported last week to again be in talks to combine; the two companies have nearly $24B in combined market cap.
  • They had abandoned 2014 merger talks due to the Scripps family's reluctance to sell.
  • Now read: Some Thoughts On A Discovery-Scripps Merger


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.