Dis­cov­ery buys Scripps for $11.9bn

Muscat Daily - - BUSINESS -

Dis­cov­ery Com­mu­ni­ca­tions Inc agreed to buy Scripps Net­works In­ter­ac­tive Inc for US$11.9bn in a bet that unit­ing own­er­ship of cable chan­nels like An­i­mal Planet and HGTV will help the com­pany adapt to a fast-chang­ing tele­vi­sion land­scape.

Dis­cov­ery chief ex­ec­u­tive of­fi­cer David Zaslav said on Mon­day he plans to use Scripps pro­gram­ming to strengthen the com­pany’s in­ter­na­tional reach and ex­pand its dis­tri­bu­tion op­tions, in­clud­ing cre­at­ing more short­form video for so­cial me­dia.

The com­bined com­pa­nies could lever­age their pro­gram­ming to en­sure they’re in­cluded in new on­line TV ser­vices that of­fers fewer chan­nels at lower prices, Zaslav said.

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