David Zaslav, president and CEO of Discovery Communications
As PRODU announced several days ago, Discovery Communications acquired Scripps Networks Interactive in a transaction valued at US$14,600 million, including cash and stocks. The purchase is expected to be consolidated at the start of 2018.
“This is an exciting new chapter for Discovery. Scripps is a company with great assets, strong brands, and popular talents and formats. Our business is about great stories and authentic characters. We think that by joining Scripps, we will create a stronger, more flexible and dynamic media company with a global content machine that can be optimized and monetized through our channels, products and combined services in each country around the world,” said David Zaslav, president and CEO of Discovery Communications.
“Thanks to the passion and dedication of our amazing employees and the Scripps family, we have built a lifestyle content company that touches consumers’ lives daily. This agreement with Discovery represents a huge opportunity for Scripps Networks Interactive to grow brands and new short format channels around the world, straight to streaming consumers and platforms,” added Kenneth W. Lowe, Chairman, president and CEO of Scripps Networks Interactive.
Both companies will jointly offer complementary brands and annually produce approximately 8 thousand hours of original programming, and has 30 thousand hours of film content.
