Warner Bros. Discovery acquires Scripps Networks Interactive, Inc.

Warner Bros. Discovery acquired Scripps Networks Interactive, Inc. for $14.6 billion, or $90 per share, a transaction completed in March 2018, structured as cash-and-stock (34% premium to Scripps' unaffected share price).

Scripps Networks Interactive, Inc. operates in U.S. Networks / lifestyle programming, is based in Knoxville, Tennessee, USA. Discovery Communications acquired Scripps Networks Interactive, owner of lifestyle networks including HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and Great American Country, in a cash-and-stock transaction valued at $14.6 billion. The combination created a global leader in real-life entertainment with nearly 20% of ad-supported pay-TV viewership in the U.S. and five of the top female-skewing networks.

Discovery and Scripps announced they had signed a definitive agreement for Discovery to acquire Scripps in a cash-and-stock transaction valued at $14.6 billion, or $90 per share. The purchase price represented a premium of 34% to Scripps' unaffected share price. The deal carried significant cost synergies estimated at approximately $350 million and was expected to be accretive to Adjusted EPS and Free Cash Flow in the first year after close.

Scripps' HGTV and Food Network are among the most-watched and most-profitable lifestyle networks in U.S. pay-TV, with strong female demographics and a large original-programming library that complemented Discovery's nonfiction portfolio. approximately $350 million in estimated cost synergies; expected to be accretive to Adjusted EPS and Free Cash Flow in the first year after close Integrated into Discovery's U.S. Networks segment