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When You Think Discovery-Scripps, Think Crossover

As cord-cutting becomes an increasingly prevalent phenomenon, Discovery Communications Inc. (DISCA) and Scripps Networks Interactive Inc. (SNI) are joining forces to prove that there is life in the cable industry yet.

Scripps, which offers channels such as HGTV, Food Network and Travel Channel, will be purchased by Discovery for $90 a share. Discovery is known for networks such as Discovery Channel, Animal Planet, TLC and OWN, as well as popular programming event Shark Week, which runs every summer. After completion of the $14.6 billion transaction, popular Scripps shows such as "Chopped," "House Hunters" and "Bizarre Foods" will join Discovery's arsenal.

The shows on both Discovery and Scripps' networks have long proved popular among female audiences -- indeed, together they operate five...