Kirkland & Ellis LLP advised the Scripps Family, the controlling shareholders of Scripps Networks Interactive, Inc. (Nasdaq: SNI) (“Scripps”), on the sale of Scripps to Discovery Communications, Inc. (Nasdaq: DISCA, DISCB, DISCK) (“Discovery”) for $14.6 billion in cash and stock. Scripps is one of the leading developers of engaging lifestyle content in the home, food and travel categories for television, the Internet and emerging platforms, with a media portfolio which includes HGTV, Food Network and Travel Channel. Discovery is a global mass media and entertainment company with a portfolio of premium nonfiction, lifestyle, sports and kids content brands, including Discovery Channel, TLC and Animal Planet. The transaction is subject to approval by Discovery and Scripps’ shareholders, regulatory approvals, and other customary closing conditions. The full press release is available here.
The Kirkland team was led by corporate partners Peter Martelli and Michael Brueck and associate Andrew Kimball.