Report: Viacom out of Scripps race


Discovery Communications has been left as the only bidder for Scripps Networks.

Viacom had hoped for a deal that would combine their youth entertainment channels with Scripps lifestyle orientated channels.

Sources close to the talks have now told The Wall Street Journal that Scripps has decided to negotiate exclusively with Discovery after reviewing the two bids.

Discovery, if successful, would become an even more dominant force in the factual and reality genres. In the UK, the broadcaster would gain control of Food Network and Travel Channel, and Scripps' 50% stake in UKTV, the broadcaster behind channels such as Dave, Home, Eden and Gold.

Reports suggest Discovery is prepared to offer 70% cash and 30% stock for Scripps. Earlier in the week, it was indicated that the Scripps family would meet soon to make a final decision on selling the company they have a 90% stake in.




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