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Discovery buys Scripps

Deal Completed. (July 2017)

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:-(
A former member
http://www.a516digital.com/2017/11/bbc-commercial-arm-poised-to-buy-all-of.html

Quote:

The BBC's commercial arm is reportedly considering to buy out all of UKTV, the broadcaster behind channels including Dave and Gold.

Currently, UKTV is operated as a 50:50 joint venture between BBC commercial subsidiary BBC Worldwide and US media company Scripps Networks Interactive. Scripps is currently in the process of being taken over by Discovery.

The Daily Telegraph reports that under a clause in the contract with Scripps, if Scripps sells up to another company, BBC Worldwide has first refusal over the 50% stake it doesn't own. Buying the remaining part of UKTV would cost around £500million, according to reports. Money would be raised through private investment.

The origins of the company date back to 1992, when the BBC and Thames launched UK Gold. UKTV launched as multi-channel operator twenty years ago this month, originally with UK Style, UK Horizons, UK Arena and UK Gold. Now, the broadcaster's portfolio of channels includes free-to-air broadcasters Dave, Really, Yesterday, Drama and Home and pay TV channels Gold, W, alibi, Eden and Good Food. Originally set up to recycle mostly BBC programmes, many of the channels have in recent years moved towards broadcasting more original and acquired programmes alongside repeats, a move that has seen increased viewing figures and market share.

BBC Worldwide's income is drived from sales of BBC shows on commercial platforms and international broadcasters. Money earned by the business, including a share of profits from UKTV's channels is returned to the BBC adding an extra revenue stream to support licence fee funding.

Neither Scripps or BBC Worldwide have commented on the reports.
DB
dbl
Without saying too much, it's simply some journos generating buzz for a story. Speculation.
:-(
A former member
So there nothing really in it? Or are the BBC and Discovery looking at the full range or possibility for the final outcome?
DV
DVB Cornwall
The Deal with UKTV is pretty straightforward. If there's a change of owner of the part BBC Worldwide don't own, they automatically get the right to buy that share. If Scripps do sell to Discovery the same caveat will apply should Discovery choose to dispose of their acquired UKTV interest in say 2023. The only way out is if a SEPARATE deal is made for the caveat which would be an entirely different matter, and hasn;'t been raised yet afaik.
MA
mannewskev
That article could do with a grammar check.

98 days later

DV
DVB Cornwall
The Deal is almost complete .....

SILVER SPRING, Md., February 27, 2018 — Discovery Communications, Inc. (Nasdaq: DISCA, DISCB, DISCK) (“Discovery”) announced today that the Department of Justice has closed its investigation into Discovery’s proposed acquisition of Scripps Networks Interactive.

“We are pleased to have passed this significant regulatory milestone on our path to acquire Scripps Networks Interactive,” said David Zaslav, President and Chief Executive Officer, Discovery. “The conclusion of the Department of Justice’s investigation is an integral step toward closing our transaction. We look forward to combining these two great companies to the benefit of our enthusiast audiences around the world.”



IN
Interceptor
Including UKTV?
DB
dbl
Interceptor posted:
Including UKTV?

Half of UKTV, yes.
NG
noggin Founding member
dbl posted:
Interceptor posted:
Including UKTV?

Half of UKTV, yes.


Have the rumblings about the BBC exercising their right to buy-out in this circumstance proved to be false?
ST
steveboswell
Well I assume the clause only kicks in when the deal goes through, so we'll hear something soon after it completes (one way or the other)?
NG
noggin Founding member
steveboswell posted:
Well I assume the clause only kicks in when the deal goes through, so we'll hear something soon after it completes (one way or the other)?


Doesn't it work the other way round? If you are buying something that someone else has first dibs of a part of, don't you need to know whether you're getting that bit too? Or am I missing something?
BR
Brekkie
noggin posted:
dbl posted:
Interceptor posted:
Including UKTV?

Half of UKTV, yes.


Have the rumblings about the BBC exercising their right to buy-out in this circumstance proved to be false?

Might it be more in the BBC's (presumably BBC Worldwide) interest to see if they can flog them their half as well?

Must say not a fan of the increased globalisation of television companies - it's kind of what happened to the ITV regions but on a global level and ultimately I'm not sure the viewer is any better off as a result.

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