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Discovery closes in on Scripps

Discovery Communications is reportedly in the final stages of talks to acquire US factual channels operator Scripps Networks Interactive (SNI).

HGTV’s biggest show Fixer Upper

It emerged last week that Discovery and SNI had once again rekindled their takeover talks, having reportedly previously discussed a merger in late 2013, although Viacom was also said to be in the running this time around.

However, Discovery is now in advanced and exclusive discussions to purchase Scripps for around US$12bn now that Viacom has left the negotiations, as reported by Reuters.

Viacom, owner of MTV, was reportedly willing to pay cash to acquire the owner of channels such as HGTV, Food Network, Travel Channel and Polish network TVN.

With Discovery looking likely to be the successful bidder, an announcement confirming the deal could come as soon as next week, according to the New York Times.

The deal would bring SNI’s channels under the same banner as Discovery Channel and Animal Planet and add further weight to Discovery Communications’ already hefty presence in the global factual industry.

SNI has been a potential takeover target since the trust that previously controlled it was dissolved in October 2012 following the death of EW Scripps’ last surviving grandchild.

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