Home / FINANCE / Markets / WALL STREET PAYDAY: Banks could reap $100 million from a Discovery-Scripps understanding (DSCA, SNI, JPM, GS)

WALL STREET PAYDAY: Banks could reap $100 million from a Discovery-Scripps understanding (DSCA, SNI, JPM, GS)


Bourse traders flow champagne after a final trade day during Frankfurt's batch sell in Frankfurt, Germany Dec 30, 2015. REUTERS/Ralph Orlowski
A
outrageous understanding for these 6 investment banks.

Thomson Reuters

Several Wall Street banks are set to separate a $100 million payday
from a understanding between cable channel operators Discovery
Communications and Scripps Networks Interactive.

Discovery, that owns channels like Animal Planet and Discovery
Channel, pronounced Monday it will compensate $14.6 billion to acquire
Scripps, adding HGTV, Travel Channel, and Food
Network to a roster.

Six banks — including boutiques Guggenheim Partners, Allen
Co., and Evercore — suggested on a deal. 

Guggenheim and Goldman Sachs suggested Discovery, and they’ll split
a immeasurable infancy of about $45 million in fees, according to
Jeffrey Nassof, executive of consulting organisation Freeman Co.

UBS will take a tiny cut for advising Discovery shareholders —
that embody a Newshouse family,
one of a richest in a universe with a net value of some-more than $18
billion, and billionaire telecom lord John Malone.

Scripps’ bankers, Allen Co. and JPMorgan, will separate the
lion’s share of an estimated $55 million in advisory fees, Nassof
said.

Evercore will take a most smaller cut for advising the
shareholders, essentially a Scripps family, that is also one of
a wealthiest families
on earth with a happening north of $7 billion. 

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