Discovery in merger talks with Scripps Networks

The Discovery Communications logo is seen at their office in Manhattan New York U.S

The stock moves followed a report by The Wall Street Journal that the two companies are in talks about a possible merger.

"There's more pressure on cable players around the world, satellite and mobile players, to merge or figure out how to offer all those together", Discovery Chief Executive Officer David Zaslav told reporters last week at Sun Valley, Idaho, conference hosted by Allen & Co. Also, Scripps is a major Food Network stakeholder.

If Discovery and Scripps should follow through with these talks, they would make a combined $19 billion cable network that specializes in non-scripted shows. Concert Wealth Management Inc acquired 7,317 shares as Celgene Corp (CELG)'s stock declined 3.49%. Discovery Communications, in which John Malone is the dominant shareholder with an over 28 percent stake, is worth about Dollars 15 billion, while family-controlled Scripps is valued at USD 8.8 billion.

Scripps Networks Interactive (NASDAQ SNI) traded up 14.16% during trading on Monday, hitting $76.51. However, they had only been exploratory in nature and Discovery had not made a bid.

What's more, none of three companies air live sports in the US, widely considered to be one of the last key draws for large television audiences that drive advertising. Reuters reported on Viacom's involvement. About 8.12M shares traded or 544.44% up from the average.




Since the beginning of the calendar year, the stock is -6.10%.

With more than 20 years of buy-side/sell-side analyst and portfolio manager experience specializing in media, entertainment and Internet investments, Slabin is to focus on Discovery's strategic positioning and build relations with the global investor community.

The report come amid hard times in the cable TV business as more consumers drop their pay TV subscriptions and watch digital video instead.

Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Discovery Channel is ranked 11th, with 1.18 million viewers.

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