×

Discovery, Scripps Shares Rise Following Report on Merger Talks

Shares of Discovery Communications and Scripps Networks Interactive rose in after-hours trading Tuesday following a Wall Street Journal report claiming that the two companies are in talks on a possible merger.

Scripps stock was up 12.5% a little more than three hours after trading closed Tuesday. Discovery stock was up 8.7%.

Citing sources familiar with the negotiation, the Journal reported Tuesday that the two companies are engaged in merger talks — noting that Discovery is valued at roughly $15 billion according to S&P Global Market Intelligence, and Scripps at $8.8 billion.

The Journal also reported that another bidder for Scripps could emerge, as no deal with Discovery has been set.

Both Discovery and Scripps hold a number of cable channels specializing in nonfiction and reality programming. The two companies had previously explored a merger in 2014, but talks eventually fell apart. While Discovery is significantly invested in its international cable channels in addition to domestic operations, Scripps has remained focused on its U.S. channels.

Discovery’s U.S. portfolio includes Discovery Channel, TLC, Animal Planet, Investigation Discovery, OWN: Oprah Winfrey Network, Velocity, Science, American Heroes, Discovery Family and Destination America. Scripps owns HGTV, Food Network, DIY Network, Cooking Channel, Great American Country, and Travel Channel.

A representative for Scripps declined to comment.

More TV

  • Jenny Wall Eryk Casemiro Nickelodeon

    Jenny Wall Named Nickelodeon CMO, Eryk Casemiro Named Senior VP of Nickelodeon Preschool

    Nickelodeon has hired two new executives, tapping Jenny Wall to become chief marketing officer and Eryk Casemiro to become senior vice president of Nickelodeon Preschool. Most recently CMO at Spotify-owned Gimlet Media, Wall will be responsible for all on- and off-air consumer marketing, brand creative and content launches across all of Nickelodeon’s platforms, including Nicktoons, [...]

  • Liz Garbus on Why We May

    Liz Garbus on Why The World May Never Know 'Who Killed Garrett Phillips'

    By the time Liz Garbus’s two-part documentary “Who Killed Garrett Phillips?” debuts on HBO, there could be a new public lead in the case of the murdered titular 12-year-old. As least, that’s what many may hope after the new St. Lawrence County district attorney admitted a new tip earlier this spring. Garbus says she would [...]

  • Mike Fleiss

    'Bachelor' Producers in Wait-and-See Mode Amid Police Probe Into Fleiss Incident

    Those working on “The Bachelor” and its sister shows are in wait-and-see mode as a domestic incident involving creator Mike Fleiss continues to be investigated in Kauai, according to sources close to production. The results of the police investigation are still pending, after Fleiss’ wife, Laura Fleiss, had accused him of attacking her in their [...]

  • Variety Cord Cutting Placeholder Cable

    Cable Blackouts Growing More Common, Even If Subscribers Get Angry

    Among media companies, “going dark” was once a matter of last resort. Now it’s an option that is seeing more light. CBS is not currently available on DirecTV or AT&T’s U-verse, the result of a battle over how much the two outlets’ owner, AT&T, ought to pay for the right to send CBS into millions [...]

  • maria elena salinas

    CBS News Names Maria Elena Salinas Contributor

    Maria Elena Salinas, one of the best-known anchors in Spanish-language broadcasting, will join CBS News as a contributor, Susan Zirinsky, the unit’s president, told staffers Monday. Salinas stepped down from her role at Univision at the end of 2017 after an on-air tenure of more than three decades. She is expected to contribute reports across [...]

  • Jonathan Taylor Thomas Ed Asner Elliott

    Jonathan Taylor Thomas, Ed Asner, Elliott Gould Seek SAG-AFTRA Board Seats

    Ed Asner, Elliott Gould and Jonathan Taylor Thomas are seeking SAG-AFTRA national board seats as members of presidential candidate Matthew Modine’s progressive Membership First slate. Asner is the former president of the Screen Actors Guild, serving two terms from 1981 to 1985, and winning five Emmys for his role as Lou Grant and two others [...]

  • Markella Kavenagh

    'Lord of the Rings' Series at Amazon Taps First Cast Member (EXCLUSIVE)

    The upcoming “Lord of the Rings” series at Amazon has made its first casting decision. Variety has learned from multiple sources that Markella Kavenagh is in talks for a role in the upcoming epic fantasy series. Details of Kavenagh’s characters are being kept under wraps, but sources say she would be playing a character named [...]

More From Our Brands

Access exclusive content