Discovery Weighs Bid for Food Network Owner
Discovery Communications Inc. is considering a bid for Scripps Network Interactive, the owner of cable channels like the Food Network and HGTV, according to a person familiar with the matter.
Such a deal would combine two cable-channel owners specializing in nonfiction television, which between them have a market capitalization of around $34 billion. Discovery owns the Discovery Channel, Animal Planet and TLC.
Discovery has yet to make a formal offer and may still decide not to proceed, the person said.