Discovery Communications bought Scripps Networks Interactive for $14.6 billion in cash and stock, the companies announced Monday. The move will add Scripps' portfolio of channels including HGTV, Travel Channel, and Food Network to Discovery's Animal Planet and Discovery Channel, with investors "largely positive on the deal for the synergies the combined company will see and the leverage it will have with pay TV partners," CNBC writes.
Others are more reserved about the deal as the number of cord cutters continues to rise. "If there were no secular concern, this deal would be a slam dunk," FBR Capital Markets analyst Barton Crockett wrote earlier this month. "Investors don't trust that this can continue, and we're not sure what turns that fear around."
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