Shares of Scripps Networks Interactive soared more than 11 percent after the market closed on Tuesday on a news report that Discovery Communications is considering a bid for the sought-after cable company. Discovery's board discussed making a possible run at Scripps, home to the Food Network and HGTV, according to a report in Variety citing a person with knowledge of the Discovery board meeting.A spokeswoman for Discovery was not immediately available to comment. A spokesman for Scripps Networks declined to comment.Discovery is the company behind the OWN Network and Animal Planet.On the distribution side, the cable industry has been a hotbed of potential merger activity. The latest target is Time Warner Cable which is being circled by competitors Comcast and Charter.
Discovery Communications, Inc. (Discovery) is a global nonfiction media and entertainment company that provide programming across multiple distribution platforms worldwide. Shares of DISCA fell by 0.28% or $-0.24/share to $85.17. In the past year, the shares have traded as low as $59.99 and as high as $89.58. On average, 1218200 shares of DISCA exchange hands on a given day and today's volume is recorded at 891632.
Scripps Networks Interactive, Inc. is a developer of lifestyle-oriented content for television and the Internet with television and interactive brands. Shares of SNI traded higher by 0.68% or $0.51/share to $75.25. In the past year, the shares have traded as low as $55.88 and as high as $81.21. On average, 780328 shares of SNI exchange hands on a given day and today's volume is recorded at 982433.
Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC traded higher by 1.09% or $1.42/share to $131.86. In the past year, the shares have traded as low as $84.57 and as high as $139.85. On average, 2416280 shares of TWC exchange hands on a given day and today's volume is recorded at 2700762.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 1.71% or $1.12/share to $66.61. In the past year, the shares have traded as low as $46.48 and as high as $70.77. On average, 4405760 shares of TWX exchange hands on a given day and today's volume is recorded at 5735094.
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