Signage is displayed on the exterior of Discovery Communications Inc. headquarters in Silver Spring, Maryland, U.S., on Thursday, July 20, 2017. Discovery, whose networks include the Discovery Channel, and Viacom Inc. are in talks to combine with Scripps Networks Interactive Inc., owner of HGTV and the Food Network, according to people with knowledge of the matter. Photographer: Andrew Harrer/Bloomberg via Getty Images
Bloomberg Bloomberg via Getty Images

The transaction is valued at $90 per share

By The Associated Press
July 31, 2017

SILVER SPRING, Md. — Discovery Communications is buying Scripps Networks Interactive Inc. in a cash-and-stock deal worth $14.6 billion.

The transaction is valued at $90 per share, about a 4 percent premium to Scripps’ Friday closing price of $86.91.

The buyout is targeted to close by early next year.

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