It looks like Viacom’s new plan to fight cord cutting is to buy up every channel it can get. According to the USA Today it is making a $10.6 billion offer to acquire Scripps Networks.
This would give Viacom ownership of HGTV, The Food Network, The Travel Channel, and more.
However, Viacom is not the only company interested in HGTV and the other networks. It is reported that Discovery is also interested in buying Scripps-owned networks, but there have been no reports of it making any offers to buy like Viacom has.
What does this mean for cord cutting? Recently Viacom has made it clear that it wants to focus on supporting traditional cable TV services. It did this by pulling its networks from both Hulu and PlayStation Vue. Viacom has also not agreed to join most of the new live TV streaming services.
Scripps, however, has been a fairly cord cutting-friendly network putting its shows on several on-demand streaming services. It has also been aggressive recently in adding its content to new live TV streaming services such as fuboTV and DIRECTV NOW on top of the services it already supports.
Update: Some news sources are now reporting that Viacom has pulled their offer leaving Discovery the only bidder.
So what will happen next? We will have to wait and see.
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