Today Discovery announced that they have completed the process of buying Scripps Networks. With this deal, Discovery now owns channels like HGTV, The Travel Channel, Food Network, and more. With this deal, Discovery is one step closer to launching their new streaming service that will carry both Discovery and Scripps owned content start at $6 a month.
“Today marks another critical milestone for Discovery, as we become a differentiated kind of media company with the most trusted portfolio of family-friendly brands around the globe,” said Discovery CEO David Zaslav. “As a new global leader in real life entertainment, Discovery will serve loyal and passionate audiences around the world with content that inspires, informs and entertains across every screen; deliver new ways for advertisers and distributors to reach highly targeted audiences at scale; and leverage our leadership position to create new value and growth opportunities for all of our stakeholders.”
Discovery and Scripps now make up about 20% of ad-supported pay-TV audiences in the U.S., according to Discovery and Scripps. Now Discovery will be the owner of five of the top cable channels for women and will account for over 20% share of women watching prime-time viewing in the U.S. The new company will be called Discovery Inc.
At this time nothing should change for cord cutters as services like Sling TV, DIRECTV NOW, and PlayStation Vue all have contracts in place. The next time they come up for renewal is when we may see changes.
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