Discovery Communications Inc. (DISCA) announced Monday, July 31, it reached a deal to acquire Scripps Networks Interactive Inc. (SNI) in a cash-and-stock deal valued at $14.6 billion.
Discovery will pay $90 a share for Scripps, a premium of 34% to Scripps' share price on July 18, prior to reports that a deal was in the works.
Scripps shares were rising 1.6% in premarket trading to $87.75.
The transaction is expected to close by early 2018.
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