Discovery Communications eyes Scripps

Discovery Communications is reportedly considering making a bid for Scripps Networks Interactive – the owner of TV networks including Travel Channel and Food Network. 

According to a Variety report, which cites an unnamed source, Discovery discussed the possibility of making an offer for the channel rival at a board meeting on Tuesday.

The news sent Scipps’ share price up yesterday. Shares closed at US$75.25 but then climbed a further 14.5% after hours.

Neither company has commented publically on the deal speculation.

A deal for US-based Scripps would follow a busy acquisition period for Discovery in Europe in the last few years.

Earlier this year, Discovery notably bought SBS’s business in Scandinavia for US$1.7 billion (€1.25 billion), launching SBS Discovery Media. It also paid €170 million to buy into TF1 channels Eurosport, Histoire, TV Breizh, Ushuaïa TV and Stylia and recently indicated it was planning to speed up plans to take a controlling stake in Eurosport.

Last month, Romanian press reports also said the firm was interested in buying free-TV broadcaster Prima TV.