Discovery Communications Meets Scripps Network

Discovery Communications is buying fellow channel operator Scripps Networks Interactive for more than $US14b

Xact Kapitalforvaltning AB's holdings in Discovery Communications were worth $1,878,000 as of its most recent filing with the SEC.

The Scripps family owns more than 95% the company voting stock, and has entered into a pact with key Discovery figures John Malone and Advance/Newhouse Programming Partnership to vote in favour of the deal.

"It's not about getting the biggest audience, its about getting an audience that you can nourish and loves you", Discovery CEO David Zaslav said. SRS Capital Advisors Inc. increased its stake in shares of Scripps Networks Interactive by 13.3% in the first quarter. DnB Asset Management AS now owns 18,139 shares of the company's stock valued at $514,000 after buying an additional 2,700 shares in the last quarter. Discovery shares ended regular trading down 8.2 percent at $24.60. The deal values SNI stock at $90 per share.

The goal is to increase Discovery's depth and reach. The original version of this piece can be read at https://www.baseball-news-blog.com/2017/07/31/teachers-advisors-llc-has-13-38-million-position-in-discovery-communications-inc-nasdaqdisck-updated.html.

ILLEGAL ACTIVITY NOTICE: "Discovery Communications, Inc". The stock was sold at an average price of $25.98, for a total value of $229,455.36. A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued.

Discovery Communications (NASDAQ:DISCK) last announced its quarterly earnings data on Tuesday, May 9th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.50 by $0.09. The company had revenue of $1.61 billion for the quarter. Discovery Communications had a return on equity of 23.67% and a net margin of 17.50%. Analysts forecast that Discovery Communications, Inc. will post $2.26 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This report was first published by StockNewsTimes and is the sole property of of StockNewsTimes. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/08/01/scripps-networks-interactive-inc-nasdaqsni-shares-bought-by-xact-kapitalforvaltning-ab-updated-updated.html.

DISCA has been the subject of several research reports. FBR & Co reaffirmed a "hold" rating and issued a $30.00 price target on shares of Discovery Communications in a research note on Friday, April 7th. The offer of United States dollars 90 per share is a premium of 34 percent on Scripps' share price on 21 July, before the first reports of a deal emerged.

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