The European Commission (EC) gave its clearance of Discovery Communications‘ proposed acquisition of Scripps Networks Interactive. In July 2017, Discovery announced that it reached an agreement to acquire Scripps Networks through a cash-and-stock transaction. The EC’s approval is a regulatory step toward closing the transaction. The combined portfolio for both companies includes Discovery Channel, Animal Planet, HGTV, and DIY Network, among others. “We are pleased with the positive decision of the European Commission. We believe that joining the Discovery and Scripps Networks’ family of brands and assets will allow us to better serve our passionate fans with more content on more platforms worldwide, while at the same time optimizing our business for greater efficiency,” said Discovery’s president and CEO, David Zaslav.
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