Actionable news
All posts from Actionable news
Actionable news in DISCA: Discovery Communications, Inc.,

Scripps surges 16% on deal talk for the Food Network, HGTV operator

Shares of Scripps Network Interactive jumped 16 percent as both Discovery Communications and Viacom have reportedly expressed interest in acquiring the lifestyle broadcast company.

Interest from Discovery revives a potential deal the two companies scrapped in 2014, The Wall Street Journal reported Tuesday. And Reuters reported that Viacom also recently held talks to buy Scripps.

Discovery shares rose 3 percent, and Viacom shares rose 1 percent.

Wall Street remains skeptical of what a merger between Discovery and Scripps would achieve. Analysts said they are doubtful that a deal, which would create a $19 billion cable network, would solve either company's ongoing dilemmas.

"We don't think any of the...