Discovery to buy Food Network's owner for â¹94,000 crore
Discovery Communications is acquiring Scripps Networks Interactive in a deal worth $14.6 billion (nearly â¹94,000 crore). Discovery is paying 70% cash and 30% stock for Scripps. The acquisition brings together Scripps' lifestyle channels such as Travel Channel and Food Network with Discovery's Animal Planet and Discovery Channel. The buyout is targeted to close by early 2018.