Discovery Communications said the U.S. Department of Justice has completed its investigation of its pending merger with Scripps Networks Interactive.
Discovery agreed to purchase Scripps Networks in July in a deal valued at about $14.6 billion. The closing of the proposed transaction remains subject to completion of review in Ireland and other customary closing conditions, which are expected to be compelted ebfore the end of he first quarter.
“We are pleased to have passed this significant regulatory milestone on our path to acquire Scripps Networks Interactive,” Discovery Communications CEO David Zaslav said in a statement “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.”
Until the close of the deal the companies will continue to operate as separate and independent entities.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.