trending Market Intelligence /marketintelligence/en/news-insights/trending/h6fmv7LcPKELdlyw8sUOCw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Discovery, Scripps seek shareholder approval for planned deal

OTT Helps To Offset Pay TV Losses for Video Security Vendors

5G Survey: Despite COVID-19 delays, operator roadmaps still lead to 5G

Southeast Asian broadband providers report varying performance amid COVID-19

Cable networks react to pandemic by cutting SG&A, programming costs

Discovery, Scripps seek shareholder approval for planned deal

Discovery Communications Inc. and Scripps Networks Interactive Inc. are seeking approval from their respective stockholders with respect to the planned merger between the two companies.

Discovery in July agreed to acquire Scripps in a cash-and-stock deal worth $14.6 billion, or $90 per share. Pursuant to the proposed deal, Scripps shareholders will receive $90 per share, comprising $63 per share in cash and $27 per share in class C common shares. Discovery is seeking approval from its shareholders for the issuance of shares of the company's series C common stock to Scripps shareholders at a special meeting of stockholders.

Scripps is asking its shareholders to approve the merger proposal at a special meeting, along with certain compensation payments that will or may be paid to its named executives in connection with the deal.

Both companies have scheduled their respective special stockholders' meetings for Nov. 17.