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Mergers: Discovery buys Scripps
  • Discovery Communications, Inc. announced today that the European Commission (EC) has cleared Discovery’s proposed acquisition of Scripps Networks Interactive, subject to conditions.

    This regulatory milestone is an important step towards closing the transaction. The EC’s approval is conditional on Discovery’s commitment to offer third party distributors the right, on a non-exclusive and unbundled basis, to distribute TVN24 and/or TVN24 BiS in Poland.

    “We are pleased with the positive decision of the European Commission,” said David Zaslav, President and Chief Executive Officer, Discovery. “We believe that joining the Discovery and Scripps Networks’ family of brands and assets will allow us to better serve our passionate fans with more content on more platforms worldwide, while at the same time optimizing our business for greater efficiency.”

    Discovery announced in July 2017 that it had reached a definitive agreement to acquire Scripps Networks in a cash-and-stock transaction. The combination of the companies is expected to extend Scripps Networks’ content to international audiences, increase opportunities for advertisers and digital distribution partners, and unlock significant cost synergies.