Discovery Gets European OK To Acquire Scripps Networks

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Discovery Communications said the European Commission has approved Discovery’s proposed acquisition of Scripps Network Interactive, subject to certain conditions.

The condition involves Discovery agreeing to offer third-party distributors the right to distribute TVN24 and TVN24 BiS in Poland.

Discovery announced an agreement to acquire Scripps in July for $11.9 billion. The deal still awaits approval from antitrust regulators in the U.S. Discovery said it expects the deal to close later in the first quarter.

“We are pleased with the positive decision of the European Commission,” said Discovery CEO David Zaslav. “We believe that joining the Discovery and Scripps Networks’ family of brands and assets will allow us to better serve our passionate fans with more content on more platforms worldwide, while at the same time optimizing our business for greater efficiency.”

Until Discovery and Scripps get approval to close the deal, the companies are operating as separate and independent entities.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.