When will the acquisition of discovery by Scripps close?
The purchase price represents a premium of 34% to Scripps’ unaffected share price as of Tuesday, July 18, 2017. The transaction is expected to close by early 2018. “This is an exciting new chapter for Discovery.
Was Discovery’s 27% stock drop caused by insider trading?
However, Discovery said that the volatility was not the result of insider transactions or trading. As of 1:40 p.m. EDT, Discovery Series A shares were down 27%, while Series C shares had fallen 30.9%. Meanwhile, ViacomCBS stock was down by a similar percentage.
What do discovery and Scripps have in common?
Together, Discovery and Scripps will offer a complementary and dynamic suite of brands.
How will the Scripps-discovery deal be financed?
Post-closing, Scripps’ shareholders will own approximately 20% of Discovery’s fully diluted common shares and Discovery’s shareholders will own approximately 80%. This calculation is based on the number of Discovery shares outstanding today. The cash portion of the purchase price will be financed with a combination of new debt and cash on hand.
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Why did Discovery stock go down?
Discovery WBD +1.13% stock has tumbled in the short time the company was formed from the merger of AT&T 's media business with Discovery. It was barely out of the gate when a woeful first-quarter report from Netflix NFLX +5.03% unnerved streaming-media investors.
Who owns Discovery Scripps?
Warner Bros. DiscoveryScripps Networks Interactive / Parent organizationWarner Bros. Discovery, Inc. is an American multinational mass media and entertainment conglomerate. It was formed by the spin-off of WarnerMedia by AT&T, and its merger with Discovery, Inc. on April 8, 2022. Wikipedia
Is Scripps Discovery?
SILVER SPRING, Maryland, March 6, 2018 – Discovery Communications, Inc. (Nasdaq: DISCA, DISCB, DISCK) announced today that the company has successfully completed its acquisition of Scripps Networks Interactive, Inc. (Nasdaq: SNI). Moving forward, the combined company will be officially known as simply: Discovery, Inc.
Who did Discovery buy?
WarnerMediaDiscovery. AT&T's WarnerMedia unit and Discovery Inc said on Friday that the two firms have completed the merger.
When did Scripps and Discovery merge?
March 6, 2018Scripps Networks Interactive, Inc. (SNI) was an American mass media company, which was formed on July 1, 2008, and acquired by Discovery Communications on March 6, 2018.
Did Scripps sell HGTV?
Discovery completes $12-billion takeover of Scripps Networks' Food, HGTV and Travel channels. Discovery on Tuesday finalized its deal to acquire Scripps Networks Interactive, formerly run by Kenneth W. Lowe, left. With him is Discovery Chief Executive David Zaslav, who will run the new enterprise.
Who owns Scripps Network?
Warner Bros. DiscoveryScripps Networks Interactive / Parent organization
Who owns Scripps local media?
Sixty percent of the company is owned by the Edward W. Scripps family trust. The E.W. Scripps Company began life in 1878 as Scripps and Sweeney Co.
Who owns Scripps Hospital?
Ellen Browning ScrippsScripps Health is a nonprofit health care system based in San Diego, California....Scripps Health.TypeNon-profitFounderEllen Browning ScrippsHeadquartersSan Diego, California , USANumber of employeesover 13,000Websitewww.scripps.org3 more rows
Why do I have Warner Brothers discovery stock?
That's a market cap of just $12.5 billion on 2021 revenue of $12.2 billion for the former Discovery Inc. The spin-off created a massive amount of WBD stock held by AT&T shareholders, who got 71% of the deal....Warner Brothers Discovery Stock Is a Speculative Buy At Best.TickerCompanyCurrent PriceWBDDiscovery$23.94Apr 19, 2022
Is CNN being bought by Discovery?
Discovery takes control of HBO, CNN, and Warner Bros., creating new media giant. New York (CNN Business) Discovery's merger with WarnerMedia took effect on Friday afternoon, creating a streaming media giant led by CEO David Zaslav.
Who owns Discovery Plus stock?
What happens if you own AT&T? AT&T's WarnerMedia will represent 71% of the newly formed Warner Bros. Discovery, and its shareholders will receive approximately 0.24 shares of the new company for each share of AT&T stock owned.
What company acquired Scripps?
Discovery Communications said it has formally closed its $14.6B acquisition of Scripps Networks Interactive, creating a powerhouse of unscripted programming that CEO David Zaslav says will dominate the space it calls “real-life entertainment.”. The new company will be known as Discovery Inc.
What is Discovery Inc?
The new company will be known as Discovery Inc. Under its umbrella are cable networks such as Discovery, Food Network, HGTV, ID and TLC, plus the sports network Eurosport and a stake in digital content generator Group Nine Media.
What is Scripps Networks Interactive?
(Nasdaq: SNI) is one of the leading developers of engaging lifestyle content in the home, food and travel categories for television, the Internet and emerging platforms.
When was Discovery Communications' annual report filed?
Information about the directors and executive officers of Discovery Communications is set forth in its Annual Report on Form 10-K, which was filed with the SEC on February 14, 2017 and in its Annual Proxy Statement, which was filed with the SEC on April 5, 2017. Information about the directors and executive officers of Scripps Networks Interactive ...
What is Discovery Channel?
Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) satisfies curiosity and captivates superfans around the globe with a portfolio of premium nonfiction, lifestyle, sports and kids content brands including Discovery Channel, TLC, Investigation Discovery, Animal Planet, Science and Turbo/Velocity, as well as OWN: Oprah Winfrey Network in the U.S., Discovery Kids in Latin America, and Eurosport, the leading provider of locally relevant, premium sports and Home of the Olympic Games across Europe. Available in more than 220 countries and territories, Discovery’s programming reaches 3 billion cumulative viewers, who together consume 54 billion hours of Discovery content each year. Discovery’s offering extends beyond traditional TV to all screens, including TV Everywhere products such as the GO portfolio and Discovery Kids Play; over-the-top streaming services such as Eurosport Player; digital-first and social video from Group Nine Media; and virtual reality storytelling through Discovery VR. For more information, please visit www.discoverycommunications.com.
Is Scripps Lifestyle Studios part of Discovery?
Additionally, Scripps Lifestyle Studios will become a key component of Discovery’s content engine, making the company a leader in key strategic areas such as data-driven ad sales, endemic advertising, and branded entertainment solutions. Discovery’s added scale, content engine and multiple brand offerings will present a compelling opportunity ...
What happened
Shares of Discovery Communications ( DISCA ) ( DISCK -0.07% ) were sinking again today. Investors continued to bail out of suddenly popular legacy media stocks like Discovery and ViacomCBS ( PARA -3.31% ), which have recently launched streaming services.
So what
Trading volume on Discovery stock was extraordinarily high today, approaching 50 million shares before 2 p.m. EDT. This indicates that an institutional investor may have decided to sell some of its stake in the media company.
Now what
The last year has seen the floodgates open in streaming, with services like Disney +, Apple TV+, Peacock, HBOMax, Discovery+, and Paramount+ either launching or ramping up significantly. In its Feb. 22 earnings report, Discovery said it had signed up 11 million subscribers to Discovery+, which launched on Jan.
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