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Discovery Communications Gets DOJ Clearance For Scripps Networks Acquisition

While reporting its fourth-quarter financial results today, Discovery Communications, Inc. (DISCA,DISCB, DISCK) said that the Department of Justice has closed its investigation into Discovery's proposed acquisition of Scripps Networks Interactive Inc. (SNI).

David Zaslav, President and Chief Executive Officer, Discovery Communications said, "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."

Discovery announced in July 2017 that it had reached a definitive agreement to acquire Scripps Networks in a cash-and-stock transaction valued at $14.6 billion. This includes the assumption of Scripps' net debt of approximately $2.7 billion.

The closing of the proposed transaction remains subject to completion of review in Ireland and other customary closing conditions. The transaction is expected to close by the end of the first quarter 2018.

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