Discovery Communications’ acquisition of Scripps Networks Interactive has cleared one regulatory hurdle.
The Silver Spring-based global network group announced this morning (February 6) that the European Commission (EC) has cleared the proposed deal, subject to conditions.
The EC’s approval hinges on Discovery’s commitment to offer third party distributors the right, on a non-exclusive and unbundled basis, to distribute TVN24 and/or TVN24 BiS in Poland.
Scripps completed its acquisition of Polish media company TVN in 2015. The two channels are part of TVN’s portfolio of free-to-air and pay-TV offerings.
“We are pleased with the positive decision of the European Commission,” said David Zaslav (pictured), president and chief executive officer, Discovery Communications, in a statement. “We believe that joining the Discovery and Scripps Networks’ family of brands and assets will allow us to better serve our passionate fans with more content on more platforms worldwide, while at the same time optimizing our business for greater efficiency.”
While the closing of the transaction, first announced in July of last year, is contingent upon obtaining additional antitrust clearances and satisfying other customary closing conditions, Discovery says the deal is expected to close later in the first quarter of this year.