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Discovery, Viacom Said to Have Held Talks to Acquire Scripps

July 19, 2017, 3:01 PM

Discovery Communications Inc. and Viacom Inc., two cable network owners hurt by the rise of Netflix Inc. and YouTube, have held separate talks to combine with Scripps Networks Interactive Inc., owner of HGTV and the Food Network, according to a person with knowledge of the matter.

Traditional media companies that built billion-dollar businesses from cable are feeling pressure to grow via acquisition after losing viewers to online video services and social networks. Consumers are spending more time on the web and advertisers are following. By combining, Scripps and Discovery or Viacom could also strengthen their hand in negotiations with pay-TV...

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