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Scripps Networks Interactive stock price
Scripps Networks Interactive latest news:
LPC: Discovery to boost US technology, media and telecom lending
A bridge loan of nearly US$10bn backing Discovery Communications Incs US$14.6 purchase of Scripps Networks Interactive (SNI) is setting this year up to be one of the biggest ever for loans backing mergers in the telecommunications, media and technology sector.
Discovery gains female advertising audience with Scripps deal
NEW YORK (Reuters) - Discovery Communications Inc, whose nature and science TV channels attract mostly male viewers, will reach more women and diversify its advertising revenue through its acquisition of Scripps Networks Interactive Inc, advertisers said on Tuesday.
Scripps Networks buys 4 networks from Katz broadcast for $292 million
Scripps Networks Interactive Inc. said on Tuesday it has acquired four national TV networks after buying the Katz broadcast networks in a deal worth $302 million. Scripps, which is set to be acquired by Discovery Communications Inc. , was already a 5% owner in part of Katz, so its net purchase price is $292 million, according to a news release. The four networks are expected to generate about $180 million in revenue and about $30 million in segment profit next year and Scripps expects it to be accretive to earnings in 2018 and beyond. The four networks are Bounce TV, Grit, Escape and Laff. "In today's fragmented television ecosystem, a growing number of viewers are consuming content from new over-the-air networks as a complement to over-the-top services," said Scripps Chief Executive Rich Boehne. "The entrepreneurs at Katz were among the first to take full advantage of this resurgence in over-the-air viewing. We were early investors in the company, and it's a strategy and team we know well." Scripps intends to pay for the deal with $250 million of new debt and about $50 million in cash on hand. The company expects the deal to close Oct. 2. Jonathan Katz, former programming executive at Turner Broadcasting, will continue to lead the Katz networks business. Shares of Scripps are up more than 22% in the year to date, while the S&P 500 index is up more than 10%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
PRESS DIGEST - Wall Street Journal - Aug 1
The following are the top stories in the Wall Street Journal. - Discovery Communications Inc (DISCA) has agreed to buy Scripps Networks Interactive Inc (SNI) for $11.9 billion, a bet that a bigger footprint in lifestyle programming will help it weather the upheaval in cable television. http://on.wsj.com/2vcde4A.
Discovery aims for content clout with Scripps Network bid
NEW YORK (Reuters) - Discovery Communications Inc is acquiring Scripps Networks Interactive Inc for $11.9 billion in a deal expected to boost the company's negotiating leverage as it seeks new audiences.
Discovery to buy Scripps Networks in bid for content clout
NEW YORK (Reuters) - Discovery Communications Inc is acquiring Scripps Networks Interactive Inc for $11.9 billion in a deal expected to boost the company's negotiating leverage as pay TV operators lose subscribers and it seeks new audiences.
UPDATE 2-Discovery to buy Scripps Networks in bid for content clout
NEW YORK, July 31 (Reuters) - Discovery Communications Inc
is acquiring Scripps Networks Interactive Inc for $11.9 billion
in a deal expected to boost the company's negotiating leverage
as pay TV operators lose subscribers and it seeks new audiences.
Exclusive: Discovery in the lead to acquire Scripps Networks - sources
(Reuters) - U.S. media company Discovery Communications Inc is in the lead to acquire U.S. cable TV network owner Scripps Networks Interactive Inc, people familiar with the matter said on Wednesday, in a deal likely to top $12 billion.
Exclusive: Viacom willing to make an all-cash deal to buy Scripps Networks - sources
(Reuters) - Viacom Inc has informed Scripps Networks Interactive it is willing to pay all cash to acquire the U.S. TV network operator, people familiar with the matter said on Tuesday.
Morgan Stanley and Vertex jump while McCormick slides
Morgan Stanley, Vertex Pharmaceuticals and Scripps Networks Interactive climb while McCormick and IBM drop
Potential Scripps Networks, Discovery merger could be coming at just the right time, analyst says
Shares of Scripps Networks Interactive Inc. were up 14% during intraday trade on Wednesday, after a Wall Street Journal report Tuesday night that the media company was in talks to merge with Discovery Communications Inc. . Shares of Discovery were up nearly 4%. The potential tie-up not only makes sense, but could be coming at just the right time, according to MKM Partners analyst Eric Handler. A Scripps acquisition would give Discovery increased relevance and scale, and would be beneficial to Scripps shareholders, Handler wrote in a note to investors. "The possible acquisition of Scripps should prove beneficial for Discovery, and create a company with revenue of roughly $10.5 billion and EBITDA of more than $4 billion," Handler wrote. "The timing of this potential transaction could be coming at a good time for Scripps, which is seeing erosion in its ratings trends, especially with HGTV, while investment spending for new initiatives remains elevated." Shares of Discovery are down nearly 2% in the year to date, while Scripps shares have gained more than 16% in the year and the S&P 500 index has gained more than 10%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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