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WSJ: Scripps family voting on possible network sale to Viacom, Discovery

Published 07/25/2017, 12:46 PM
© Reuters.  WSJ: Scripps family voting on possible network sale to Viacom, Discovery
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  • The Scripps family, which controls almost 92% of voting control of Scripps Networks Interactive (SNI +4.2%), is voting today to discuss a possible sale to Viacom (VIA, VIAB) in what would be the latter's biggest bet yet since Bob Bakish took the helm, or to Discovery Communications (NASDAQ:DISCA).
  • That's according to a Wall Street Journal report. VIAB is down 2.3% on the news; VIA -2.3%. DISCA is 1.6% lower.
  • SNI's lifestyle brands aren't an exact fit with Viacom's core youth- and reality-focused programming, but could give Viacom a stronger hand in increasingly competitive channel carriage talks.
  • SNI and Discovery were reported last week to again be in talks to combine; the two companies have nearly $24B in combined market cap.
  • They had abandoned 2014 merger talks due to the Scripps family's reluctance to sell.
  • Now read: Some Thoughts On A Discovery-Scripps Merger


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