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Discovery buying Scripps Networks in $14.6B deal

SILVER SPRING, Md. (AP) – Discovery Communications is buying Scripps Networks Interactive Inc. in a cash-and-stock deal worth $14.6 billion.

The transaction is valued at $90 per share, about a four percent premium to Scripps’ Friday closing price of $86.91.

The buyout is targeted to close by early next year.

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