×
You will be redirected back to your article in seconds

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

  • Alex Gansa Howard Gordon

    'Homeland' Creators Ink Multi-Year Overall Deal at Sony

    Howard Gordon and Alex Gansa have signed a multi-year overall deal at Sony Pictures Television, Variety has confirmed. The new deal means the duo will depart their longtime home at 20th Century Fox Television. In addition to Gordon and Gansa, Sony’s current roster of creators under overall deals includes Norman Lear, Anthony Hemingway, Gloria Calderon Kellett, [...]

  • Mel Robbins - Season 1 -

    'The Mel Robbins Show' Picked Up for Fall Debut in Syndication

    Sony Pictures Television announced Tuesday that “The Mel Robbins Show,” its new one-hour syndicated talk show, has been picked up by Nexstar Media Group. The show will be hosted by author and speaker Mel Robbins. It will debut in syndication on Sept. 16 and clear 90% of U.S. television households. The list of station groups [...]

  • Ken Kercheval dead

    Ken Kercheval, Cliff Barnes on 'Dallas,' Dies at 83

    Ken Kercheval, who played oil tycoon Cliff Barnes, the rival of Larry Hagman’s J.R. Ewing on “Dallas,” has died. He was 83. A spokeswoman at Frist Funeral Home in Kercheval’s hometown of Clinton, Ind., confirmed his death on Wednesday to Variety, but did not provide additional information. Kercheval and Hagman were the only two stars who [...]

  • The CW Renews ‘All American,’ ‘The

    The CW Renews ‘All American,’ ‘The 100,’ ‘In The Dark’ and ‘Roswell, New Mexico’

    The CW has announced a flurry of renewals. Three of the network’s freshman shows, “All American,” “Roswell, New Mexico” and “In The Dark,” will return for second seasons, as well as “The 100,” which gets a seventh outing. This means that all five of The CW’s first-year shows, including the previously-renewed “Legacies” and “Charmed,” have [...]

  • Gael Garcia Bernal

    Showtime Announces Cast for Gael Garcia Bernal, Jonas Cuaron Pilot 'Hombre'

    Showtime has revealed who will be joining “Mozart in the Jungle” star Gael García Bernal in the upcoming Jonas Cuarón pilot “Hombre,” which deals with undocumented immigrants. Marisé Alvarez, Greg Grunberg, Pepi Sonuga, Adriana Santos, and Noah Reyes have all been cast in the pilot, which is set to begin production at the end of [...]

  • Gil L Robertson IV and Shawn

    African American Film Critics Association Announces Inaugural TV Honors Awards Show

    The African American Film Critics Association will host the first-ever AAFCA TV Honors awards show to celebrate outstanding achievement in the field. The inaugural event will take place as a luncheon on Aug. 11 at the California Yacht Club in Marina Del Rey and present awards in seven categories. Winners will be announced on June [...]

  • Jedediah Bila Named Co-Host 'Fox &

    Jedediah Bila Named Co-Host 'Fox & Friends Weekend'

    Fox News Channel named Jedediah Bila a co-host of its weekend broadcast of “Fox & Friends,” giving the contributor a wider platform on the cable-news network. Starting this Saturday, Bilahwill join co-host Pete Hegseth, along with a rotating third co-host, on the morning program. “Jedediah’s thoughtful analysis and endearing personality have cultivated a connection with [...]

More From Our Brands

Access exclusive content