Discovery Buys Rival for $14.6b

Discovery Communications announced Monday it was buying television rival Scripps Networks Interactive for $14.6 billion, a deal that will give it Food Network, Travel Channel and other channels in global markets, AFP reported. The deal will unite the Discovery Channel, TLC, Animal Planet, Eurosport and others operated by Maryland-based Discovery Communications with the operations of Scripps, which include HGTV, DIY Network and Great American Country. Scripps also operates Poland-based TVN; UKTV, a joint venture with BBC Worldwide; and Asian Food Channel.