Discovery Buying Scripps Networks in $14.6 Billion Deal

SILVER SPRING, Md. — Discovery Communications is buying Scripps Networks Interactive Inc. in a cash-and-stock deal worth $ 14.6 billion.

The transaction is valued at $ 90 per share, about a 4 percent premium to Scripps’ Friday closing price of $ 86.91.

The buyout is targeted to close by early next year.