Covery Communications changes company name To Discovery, Inc.
SINGAPORE – Discovery Communications, Inc. announced that the company has successfully completed its acquisition of Scripps Networks Interactive, Inc. . Moving forward, the combined company will be officially known as simply: Discovery, Inc.
The name change to Discovery, Inc. demonstrates a new focus on growth in the areas at which Discovery excels, telling stories across deeply loved genres and empowering superfans to explore their world wherever and whenever they choose.
The acquisition is expected to be accretive to adjusted earnings per share and to free cash flow in the first year after closing, including significant cost synergies. The combination is expected to create a strong economic model with capacity for rapid debt repayment and a clear runway for growth and value creation.
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