A WEEK AFTER reported merger talks with Discovery Communications, Scripps Networks is being courted by Viacom Inc.
According to a Reuters report, Viacom is willing to pay all cash to acquire the U.S. TV network operator. A deal with Scripps (owner of brands such as Food Network, HGTV, Travel Channel and others) would create a US$24.9 billion cable network that brings together non-scripted programming and scripted programming, including children's shows and a movie studio.
Viacom has also been talking to cable and satellite companies about launching a so-called skinny bundle of non-sports networks for less than $20 per month, continues the report. By acquiring Scripps programming, Viacom has more to offer its pay TV partners for such a bundle.
Then later Wednesday, a new Reuters report claimed Discovery has the edge, is in exclusive negotiations and that it will take at least an offer of US$12 billion to take over Scripps.
