Discovery Plans To Buy Scripps Networks (HGTV & Food Network Etc.) For $11.9B

HGTV and The Food Network have a new owner!

Discovery Communications announced Monday morning their plans to buy the Scripps Networks Interactive for $11.9 billion, which means Discovery would own 20% of advertising-supported pay-television.

David M. Zaslav, chief executive of Discovery Communications, released a statement saying…

“We believe that by coming together with Scripps, we will create a stronger, more flexible and more dynamic media company.”

We approve, as long as you don’t mess with Fixer Upper!

 

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