Report: Discovery looking to buy Scripps Networks Interactive

Scripps Networks Interactive headquarters

Scripps Networks Interactive headquarters

Companies that know how to make money often attract interest from potential buyers. It’s happening again for Scripps Networks Interactive.
The purchase of the Knoxville-based lifestyle media company was discussed today at a meeting of the Discovery Communications board, according to a report on the Variety website.
Scripps Networks has been the subject of purchase gossip for some time.
Walt Disney, Time Warner and CBS have previously been mentioned as possible suitors.
“SNI’s holdings would be a natural fit with Discovery’s suite of lifestyle-driven cablers, which include the mothership channel, TLC, Animal Planet and OWN.
“Knoxville, Tenn.-based SNI has been seen as a prime acquisition target for some time. The company has valuable brands, particularly in Food Network and HGTV, but is small enough to be easily integrated into a larger conglom with cable programming assets. SNI has a market cap of about $11 billion, with the stock closing Tuesday at $75.26, up 52 cents,” Variety reports.
Click here for the Variety story.