There are reports that Discovery Communications are considering a purchase of Scripps Networks Interactive, the company that owns the Food Network, Travel Channel and half of UKTV.
This possible deal appears to be mostly focused on the US market, where channel owners feel a need to consolidate to gain leverage against the cable companies. Neither Discovery nor Scripps own any major general entertainment or sports channels, which puts them at a disadvantage to larger cable broadcasters such as Fox, Disney, NBCUniversal and Time Warner. A combined company would own lots of channels that are considered "must haves" in the States.
In the UK, Discovery would suddenly own three Freeview channels and half of UKTV. The company has already bought a 20% stake in Eurosport, and may well buy the entire channel in a few years. Taken together, this would make Discovery a slightly more important player.