HALISTER: Discovery Communications Buys Scripps Networks for $90/Share

Discovery Communications Buys Scripps Networks for $90/Share

(Bloomberg) -- Discovery Communications and Scripps Networks Interactive have signed a definitive agreement for Discovery to acquire Scripps in a cash-and-stock transaction valued at $14.6 billion, or $90 per share based on Discovery’s Friday, July 21 closing price.
  • Discovery sees deal adding to adj. EPS
  • Scripps holders to get $63.00 per share in cash and $27.00 per share in Class C Common shares of Discovery stock
  • Guggenheim Securities, LLC and Goldman Sachs & Co. LLC served as financial advisors
  • NOTE: Scripps 2Q prelim oper. rev. $925.0m, est. $936.4m
Link to Statement: Discovery Communications To Acquire Scripps Networks Interactive For $14.6 Billion To contact the reporter on this story: Andrew Kostic in New York at akostic@bloomberg.net

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
DISCA US (Discovery Communications Inc)
SNI US (Scripps Networks Interactive Inc)

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