Report of Merger Talks Prompts Surge in Two Media Firms’ Stock Prices

Jul 18, 2017  •  Post A Comment

A report that two major media companies are discussing a merger sparked an upturn in both companies’ stock prices.

Variety reports that Scripps Networks Interactive stock was up 12.5% and Discovery Communications was up 8.7% a little more than three hours after the close of trading today. The stock moves followed a report by The Wall Street Journal that the two companies are in talks about a possible merger.

The Journal, which cited sources who are familiar with the negotiations, noted that Discovery is valued at about $15 billion with Scripps at $8.8 billion, based on data from S&P Global Market Intelligence.

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