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    DISCA   US25470F1049

DISCOVERY, INC.

(DISCA)
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EU clears Discovery bid for Scripps subject to conditions

02/06/2018 | 10:22am EDT
The Discovery Communications logo is seen at their office in Manhattan, New York, U.S.

BRUSSELS (Reuters) - EU antitrust regulators have approved Discovery Communications' (>> Discovery Communications Inc.) $14.6 billion (10.53 billion pounds) bid for U.S. peer Scripps Network Interactive (>> Scripps Networks), subject to concessions in Poland, the European Commission said on Tuesday.

BRUSSELS (Reuters) - EU antitrust regulators have approved Discovery Communications' (>> Discovery Communications Inc.) $14.6 billion (10.53 billion pounds) bid for U.S. peer Scripps Network Interactive (>> Scripps Networks), subject to concessions in Poland, the European Commission said on Tuesday.

The EU found there to be limited overlap in the companies' activities in Britain, but saw the risk that Discovery's bargaining power towards TV distributors in Poland would increase because of its acquisition of Scripps' TVN broadcaster.

Following the deal, Discovery could have imposed licensing of its whole TV channel portfolio at increased pricing in particular because TVN24, TVN's flagship news channel, was identified as crucial to retail TV offerings.

To address the concern, Discovery committed to making TVN24 and sister channel TVN24 Bis available to TV distributors in Poland at a reasonable fee for seven years.

The Commission said it had also rejected a request from Poland to refer the merger to the Polish competition authority for assessment.

Discovery is paying cash and stock in a deal valued at $14.6 billion including debt when it was announced in July 2017. The acquisition will bring together Scripps' largely female-focused lifestyle channels with Discovery's Animal Planet and Discovery Channel, whose viewers are primarily male.

(Reporting by Philip Blenkinsop)

Stocks treated in this article : Discovery Communications Inc., Scripps Networks

ę Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED -1.08% 0.92 End-of-day quote.-41.03%
DISCOVERY, INC. 1.15% 25.44 Delayed Quote.-15.45%
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Analyst Recommendations on DISCOVERY, INC.
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Financials (USD)
Sales 2021 12 183 M - -
Net income 2021 1 244 M - -
Net Debt 2021 11 344 M - -
P/E ratio 2021 13,9x
Yield 2021 -
Capitalization 16 697 M 16 697 M -
EV / Sales 2021 2,30x
EV / Sales 2022 2,11x
Nbr of Employees 9 800
Free-Float 64,2%
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Technical analysis trends DISCOVERY, INC.
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Mean consensus HOLD
Number of Analysts 24
Last Close Price 25,44 $
Average target price 38,55 $
Spread / Average Target 51,5%
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Managers and Directors
David M. Zaslav President, Chief Executive Officer & Director
Gunnar Wiedenfels Chief Financial Officer
Robert J. Miron Chairman
Avi Saxena Chief Technology Officer
David C. Leavy Chief Corporate & Operating Officer
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