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Discovery reports preliminary results of exchange offers for Scripps notes

Discovery Communications Inc. on March 19 reported preliminary results of the exchange offers and consent solicitations for Scripps Networks Interactive Inc. notes.

As of 5 p.m. ET on March 16, $2.5 billion of each series of notes previously issued by Scripps have been validly tendered and not validly withdrawn in connection with Discovery Communications LLC's offers to exchange old notes for new senior notes. Concurrently with the exchange offers, Scripps is soliciting consents to amend the indentures governing the old notes.

Scripps has received the requisite consents from holders of the old notes in the consent solicitations to amend the Scripps indentures. As a result, it is expected that the company and U.S. Bank NA will execute a supplemental indenture to effect the proposed amendments on the settlement date of the exchange offers, which is expected to be April 3, the second business day following the expiration of the exchange offers.

D. F. King & Co. Inc. is the information agent for the exchange offers.