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
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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