Discovery And Scripps In Deal For As A Minimum $90 Viacom Bid Falls Quick

Scripps shares jumped 2.8 percent on Thursday, while Discovery shares are down 2 percent and Viacom shares are up 4 percent.
Discovery, Scripps Networks agree on at least $90 per share deal: Sources 3 Hours Ago | 04:32Discovery Communications and Scripps Networks Interactive have agreed to combine in a deal for at least $90 a share after Viacom failed to prevail with an all-cash bid, sources tell CNBC.
At $90 a share, the deal would be roughly $11.7 billion based on Scripps’ share count.
Earlier, sources told CNBC that the family behind Scripps was looking for at least 50 percent cash in the deal.
Scripps had earlier decided Discovery’s bid was superior to that of Viacom’s, the sources said.

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