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Rumors of Discovery Eyeing Scripps

Shares of Scripps Networks Interactive, Inc. (NYSE:SNI) are climbing higher this morning on news that Discovery Communications Inc. (NASDAQ:DISCA) is exploring a takeover bid for the company according to Variety. Scripps owns several cable channels such as the Food Network, HGTV, DIY Network, the Cooking Channel and Great American Country.  However, Citigroup doesn’t think a deal makes sense unless Discovery could steer Scripps to more international markets. There are a lot of M&A rumors surfacing lately in the media sector. The media landscape will be pretty interesting next year.