- Variety reports Discovery's (DISCA) board discussed a possible bid for Scripps (SNI) at a Tuesday meeting.
- The magazine points out Scripps, which owns the Food Network, HGTV, and the Travel Channel, would mesh well with Discovery's own stable of "lifestyle-driven" channels. A merger would also give Discovery more leverage and bundling opportunities in talks with pay-TV providers.
- Scripps remains controlled by 24 descendants of founder E.W. Scripps. The heirs currently face restrictions on their ability to liquidate their holdings via public markets.
- SNI +9.6% AH. DISCA nearly unchanged for now.
Discovery reportedly mulling bid for Scripps
Dec 10 2013, 16:51 ET