July 31, 2017
Weil is advising Scripps Networks Interactive, Inc. in its merger agreement with Discovery Communications, Inc., under which Discovery will acquire Scripps in a cash-and-stock transaction valued at $14.6 billion. The combined company will produce approximately 8,000 hours of original programming annually, be home to approximately 300,000 hours of library content, and will generate a combined 7 billion short-form video streams monthly, demonstrating its commitment to delivering content as a top short-form provider. Combined, Discovery and Scripps will have nearly 20% share of ad-supported pay-TV audiences in the U.S. The transaction is expected to close by early 2018.
The Weil team advising Scripps is led by M&A partner and Corporate Chairman Michael Aiello and includes Mergers & Acquisitions associates Eoghan Keenan, Hayden Guthrie (Not Yet Admitted in New York), Kimberly Thibault, Kelsey Pfleger, Camille Walker, Brianna Dollinger (Not Yet Admitted) and Vernell Moreland (Not Yet Admitted); Executive Compensation & Benefits Head Paul Wessel; Antitrust/Competition Co-Head Steven Newborn; Banking & Finance partner Damian Ridealgh; Capital Markets partner Faiza Rahman; Technology & IP Transactions partner Charan Sandhu; Tax Co-Chair Kenneth Heitner; Executive Compensation & Benefits associates Zahava Blumenthal and Franny Glick; Antitrust associates Dan Antalics, Jonathan Cheng and Scott Hazelgrove; Banking & Finance associate Jacqueline Diaz; Capital Markets associate Michael Stein; Technology & IP Transactions associate Daniel Cohl; Tax associates Liam Murphy and Soo Jin Kim; and Public Company Advisory Group associate Reid Powell.