Discovery Communications Inc. completes acquisition of Scripps Networks interactive to create Discovery, Inc.

Discovery Communications IncDiscovery Communications has completed its acquisition of Scripps Networks Interactive, with the combined company to be officially known as Discovery, Inc.

Scripps Networks Interactive is a leading developer of lifestyle-content for television and the Internet. The company’s brands includes HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and country music network Great American Country.

Scripps shareholders will receive approximately $90 per share, consisting of $65.82 per share in cash and 1.0584 per share in Series C Common shares of Discovery stock valued based on a volume weighted average price (subject to elections and proration), in each case in accordance with the terms of the merger agreement. This includes a cash payment of $2.82 per share in connection with Discovery’s previously announced decision to exercise in full the cash top-up option under the merger agreement.

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.

Kenneth W. Lowe, former Chairman, President & CEO of Scripps Networks Interactive, will join Discovery’s board of directors, effective immediately.

David Zaslav, President and Chief Executive Officer for Discovery, said, “Today marks another critical milestone for Discovery, as we become a differentiated kind of media company with the most trusted portfolio of family-friendly brands around the globe. As a new global leader in real life entertainment, Discovery will serve loyal and passionate audiences around the world with content that inspires, informs and entertains across every screen; deliver new ways for advertisers and distributors to reach highly targeted audiences at scale; and leverage our leadership position to create new value and growth opportunities for all of our stakeholders.”

USA, Silver Spring, MD & Knoxville, TN

Related articles:

Groupon acquires last-minute travel app Blink

grouponGroupon has acquired last-minute travel app Blink, a travel app dealing in discounted same-day bookings for European hotels. The deal will help bolster Groupon’s Getaways travel business. The terms of the deal were not disclosed.

“We are very excited to welcome the Blink team to the Groupon family,” said Aaron Cooper, senior vice president of Groupon Getaways. “The combination of a fantastic mobile app, same-day inventory management for properties and a team that is obsessed with mobile and last-minute travel will help us further expand our travel business as the go-to destination for great deals on great places to stay.”

The Blink app will be rebranded “Blink by Groupon” and will operate separately from the Groupon parent business.

USA, Chicago, IL

Related articles:

TripAdvisor acquires GateGuru

tripadvisorTripAdvisor has acquired GateGuru, a mobile resource for flight and airport information around the world.  Built on a mix of user-generated content and information from the airports, flyers can view detailed maps and insights on stores, restaurants, amenities and gate locations.  Combined with weather forecasts, estimated security wait times and real-time flight status information, the app aims to take the stress out of flying. The terms of the deal were  not  disclosed.

gateguru

“Flying is often an essential part of a trip and we have continually developed our suite of flights products, from the pricing andavailability search on TripAdvisor, to our award-winning SeatGuru.com, with seat maps and more,” said Steve Kaufer, co-founder and CEO TripAdvisor, Inc.  “GateGuru nicely complements our existing flights products and we look forward to working with the GateGuru team as they continue to manage the GateGuru app and add great functionality to the TripAdvisor mobile experience.”

The GateGuru team will continue to operate out of New York City, and report to Bryan Saltzburg, General Manager New Initiatives and leader of the TripAdvisor Flights product and SeatGuru brand.

USA, Newton, MA & New York, NY

Related articles:

USA TODAY Travel Media Group acquires Tripology

USA TODAY LOGOUSA TODAY Travel Media Group has acquired Tripology. Terms of the acquisition were not disclosed.

Tripology is an interactive travel referral service focused on connecting travelers with experienced travel specialists. Available free to consumers, Tripology utilises proprietary technology to match traveler requests with travel professionals. USA TODAY plans to offer Tripology.com referral services across Gannett media outlets.

“The acquisition of Tripology fits well into our overall growth strategy. The USA TODAY Travel Media Group has been expanding its tripologydigital portfolio of travel news, products and services over the past year. For decades, we’ve provided our audience with helpful and easy to use travel content and now we’re adding more tools to help consumers with their travel experience,” saidJohn Peters , president of USA TODAY Travel Media Group. “Time-starved travelers researching and booking cruises, honeymoons, family reunions, and other complicated travel often require the services of a travel professional and Tripology can match them with a specialist.”

USA, McLean, VA

Related articles:

The USA TODAY Travel Media Group acquires 10Best.com

USA TODAY LOGOThe USA TODAY Travel Media Group has acquired 10Best.com. Terms of the acquisition were not disclosed.

10Best.com provides users with original, unbiased, and experiential travel content of top attractions, things to see and do, and restaurants for top destinations in the U.S. and around the world. The content is produced by writers living in the city they write about. In 2012, 10Best.com averaged more than 700,000 monthly unique visitors generating approximately 28 million page views.10best

10Best.com will continue as a standalone travel media site and its content will be featured in USA TODAY Travel Media Group travel products. The content will also be used across other Gannett media outlets.

“As we welcome the 10Best brand and team into the USA TODAY family, we believe their expertise in fresh, useful and engaging travel content will greatly contribute toward expanding our product offerings,” said John Peters , president of USA TODAY Travel Media Group. “Travel is in the DNA of USA TODAY and for decades we’ve been providing our audience with helpful and easy to use travel content. 10Best fits very well into our overall travel strategy as we continue to expand our digital portfolio of travel news, products and services.”

USA, McLean, VA

Related articles:

Expedia to acquire majority of trivago

expediaExpedia is to acquire a 61.6% equity position in trivago, a metasearch company headquartered in Germany, for  €477 million including €434 million in cash as well as €43 million in Expedia  stock.

“The trivago team built one of the largest, fastest growing and most well known travel sites in Europe conducting more than 100 million hotel searches annually through a culture focused on developing great products, building a strong brand and promoting partners’ businesses. These attributes closely align with our Expedia, Inc. strategy and values and we are thrilled to have them join our portfolio,” said Dara Khosrowshahi , Expedia, Inc. President and Chief Executive Officer.

Founded seven years ago, trivago quickly grew into a consumer champion for hotel accommodation featuring comprehensive search results from over 600,000 hotels across over 140 booking sites in over 30 countries in 23 languages. Through its primarily cost-per-click revenue model, trivago profitably doubled revenue each year since 2008 and currently expects to deliver approximately €100 million in net revenue for 2012.

The deal is anticipated to close during the first half of 2013. Post close, the trivago co-founders and management team will continue to operate independently based out of trivago’s headquarters in Dusseldorf, Germany.

USA, Bellevue, WA & Germany, Dusseldorf

Related articles:

 

TripAdvisor, has acquired Wanderfly, a travel recommendation search engine. Terms of the deal were not disclosed.

“The Wanderfly team understands the value in social travel planning,” said Steve Kaufer , co-founder and CEO TripAdvisor. “They’re a great asset as we continue our developments in this area and I am delighted to welcome them to TripAdvisor.”

USA, Newton, MA