Discovery Communications’ $14.6 billion acquisition of Scripps Networks Interactive creates a powerhouse of lifestyle and unscripted cable TV fare. That should make deal-making easier, especially overseas, but it may or may not help at home, where advancement in the marketplace by streaming rivals and the steady increase of cord-cutting consumers pose major threats.
“Clout counts” was the broad-stroke takeaway for the short term, according to the principals, analysts and involved attorneys, who chose to stay off the record. The deal is expected to be finalized by early 2018, and the price includes the assumption of $2.7 billion in debt currently carried by Scripps.
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