Discovery buys Scripps for $11.9B, creating cable giant

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Discovery Communications Inc. agreed to buy Scripps Networks Interactive Inc. for $11.9 billion in a bet that uniting ownership of cable channels like Animal Planet and HGTV will help the company adapt to the changing television landscape. Discovery, one of billionaire John Malone’s key holdings, will acquire Scripps for about $90 a share and assume ...

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