Discovery to buy Scripps Networks for US$14.6bil

Lucy Hill
August 1, 2017

(SNI) opened at 87.41 on Tuesday.

The stock has a 50-day moving average price of $25.38 and a 200-day moving average price of $26.69. Scripps Networks Interactive, Inc. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.09. Scripps Networks Interactive had a return on equity of 39.52% and a net margin of 29.21%.

For the second quarter, Discovery U.S. networks' revenues rose to $890 million - with a 4% increase in distribution fees to $400 million and advertising revenues unchanged at $472 million. During the same period a year ago, the firm posted $1.37 EPS. After having $0.41 EPS previously, Discovery Communications Inc.'s analysts see 68.29 % EPS growth. If you are reading this report on another website, it was stolen and republished in violation of US & global trademark & copyright law.

Shares of Discovery Communications, Inc.

A number of research analysts have issued reports on the stock.

Other large investors have also made changes to their positions in the company.

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Discovery had tried unsuccessfully twice before to buy Scripps. Zacks Investment Research lowered Discovery Communications from a "hold" rating to a "sell" rating in a research note on Thursday, May 4th.

Analyst's ratings play a very important role in outlining a stock's performance. Discovery Communications now has an average rating of "Hold" and an average target price of $28.65.

It was revealed that rival network Viacon also offered a cash bid but discovery fought off their competitors with an $11.9bn offer, paying a premium of 34% per share based on recent evaluations. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Scripps shareholders will receive $90 per share: $63 in cash and $27 in Discovery's Class C common stock.

Insider Trades for Discovery Communications, Inc. show that the latest trade was made on 14 Jun 2017 where Campbell (Bruce L), the Officer completed a transaction type "Sell" in which 9283 shares were traded at a price of $26.43. The disclosure for this sale can be found here. (NASDAQ:GEVO) are -5.65%; 2.18% for the month; -37.4% for the last quarter; -77.32% for the past six-months; and -93.81% for the last 12 months.

Discovery and Scripps, as a single network, will produce 8,000 hours of original program a year, have 300,000 hours of library content and generate a combined 7 billion short-form video streams monthly. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements.

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