Discovery, Scripps ‘end merger talks’

Discovery Communications and Scripps Networks Interactive have reportedly abandoned the idea of a possible merger.

The Scripps family, which controls the eponymous business, was reluctant to go forward with a sale and discussions never got to the stage of Discovery making a formal offer, according to the Wall Street Journal.

The report, citing people familiar with the matter, comes after shares in Scripps spiked last month following a claim by Variety that Discovery was considering a bid.

Scripps networks include HGTV, Travel Channel and Cooking Channel, as well as a majority interest in Food Network. Discovery’s portfolio includes the Discovery Channel, Animal Planet and TLC.

Discovery also approached Scripps three years ago to discuss a potential deal but again, the family was reluctant to sell, according to the WSJ.

The paper said Discovery was now intent on focusing outside the US, having acquired a 20% stake in France’s TF1 Group’s Eurosport in late 2012.

Neither Discovery nor Scripps has confirmed the talks, which are said to have broken down last week.