Discovery Acquires Scripps Networks for $14.6 Billion

Discovery Communications acquires Scripps Networks Interactive

The fund owned 72,701 shares of the company's stock after buying an additional 15,890 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of Scripps Networks Interactive by 13.3% in the first quarter.

A previous attempt to merge the two companies failed back in 2014, but this latest set of talks has resulted in a deal. Acadian Asset Management LLC bought a new position in shares of Discovery Communications during the first quarter worth approximately $134,000.

The schedules to the Agreement and Plan of Merger have been omitted from this filing Discovery Communications, Inc.

ILLEGAL ACTIVITY NOTICE: "Discovery Communications, Inc".

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Discovery Communications, Inc. has a 52 week low of $22.85 and a 52 week high of $29.18. The firm has a 50 day moving average of $26.21 and a 200 day moving average of $27.38. It has a 12.07 P/E ratio.

DISCA stock was down 7% and SNI stock was up slightly as of Monday morning. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by $0.09. Discovery Communications had a net margin of 17.50% and a return on equity of 23.67%. The company's quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts forecast that Discovery Communications, Inc. will post $2.24 earnings per share for the current fiscal year. (NASDAQ:DISCK) news were published by: Nasdaq.com which released: "Discovery Communications, Inc". If you are viewing this news story on another website, it was stolen and reposted in violation of United States & worldwide trademark & copyright law.

A number of research firms have issued reports on DISCK. ValuEngine cut shares of Discovery Communications from a "buy" rating to a "hold" rating in a research report on Friday, June 2nd. The shares were sold at an average price of $26.43, for a total transaction of $245,349.69. That's more than Viacom, the next-biggest TV company by market value. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. About 8.07M shares traded or 355.93% up from the average. Following the sale, the director now owns 188,676 shares of the company's stock, valued at $4,901,802.48. The disclosure for this sale can be found here.

"While both companies have largely reality-based programming, the genres/ content are different, with Discovery's content more easily travelling globally vs. Scripps'", he said. The Company's content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.

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