Discovery Communications today announced the completion of its acquisition of Scripps Networks Interactive, with the combined company to have the new name Discovery, Inc.
“Today marks another critical milestone for Discovery, as we become a differentiated kind of media company with the most trusted portfolio of family-friendly brands around the globe,” said David Zaslav, President and Chief Executive Officer for Discovery. “As a new global leader in real life entertainment, Discovery will serve loyal and passionate audiences around the world with content that inspires, informs and entertains across every screen; deliver new ways for advertisers and distributors to reach highly targeted audiences at scale; and leverage our leadership position to create new value and growth opportunities for all of our stakeholders.”
Kenneth W. Lowe, former Chairman, President & CEO of Scripps Networks Interactive, will join Discovery’s board of directors, effective immediately.
The announcement notes that the new company:
- features five of the top female U.S. cable networks, reaching 20% of women watching primetime pay-TV.
- is a platform innovator driving 7 billion average short- and mid-form monthly video views.
- is home of the Olympic Games and the leader in sports in Europe.
- reaches fans in 220 countries and territories and 50 languages with 8,000 hours of original programming.
The company also introduced itself by releasing a short video, which you can see below …