Discovery Communications Monday announced it has agreed to buy Scripps Networks Interactive in a $14.6 billion deal that creates a lifestyle programming engine with a global reach. Scripps Networks offers a portfolio of shows that appeal to the lucrative female demographic, including those in the do-it-yourself genre featured on the Food Network, HGTV, the Travel Channel and the Cooking Channel. Discovery could launch “ad-supported networks with [Scripps] content in dozens of international markets,” Cahall said. Scripps Networks’ net profit was $673 million. Scripps Networks Interactive was spun out of the longtime Cincinnati-based newspaper chain and media service E.W.

Source: Washington Post July 31, 2017 11:16 UTC