Vivian D. Labbe
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Vivian D. Labbe in Mergers & Acquisitions,

Discovery Acquires Scripps Network In $11.9 Billion Deal.

Discovery Communications DISCA has announced plans to buy Scripps Networks Interactive SNI for $11.9 billion on Monday. Investors seem to have mixed feelings as shares of Discovery have fallen 7% in early morning trading while Scripps stock has risen about 0.65% in reaction to the news.

Looks like the breakout of the rising wedge is possible. Stochastics are close to overbought territory. 
Shares of SNI will likely try to close the gap 84.1324-86.0289.

SNI, SCRIPPS NETWORKS INTERACTIVE Inc