WASHINGTON — Discovery Communications has officially closed on its $12 billion acquisition of HGTV and Food Network owner Scripps Networks Interactive Inc., moving it one step closer to leaving its longtime Silver Spring headquarters.
The merger creates a cable giant with more female appeal. Discovery says it now has five of the top female U.S. cable networks, reaching 20 percent of women watching prime-time pay TV, and makes it the global leader in “real life,” or non-scripted, programming.
Discovery now reaches 220 countries and 50 languages with 8,000 hours of original programming.
Discovery and Scripps first announced plans for their merger in July.
The merger also gives Discovery Communications a new name. It is now simply Discovery Inc.
The merger is behind Discovery’s decision to move its corporate headquarters to New York, a relocation expected to be made by 2019.
Discovery has said it has an obligation to shareholders to run a business in the most effective way. New York is home to top advertising and marketing partners for both companies.
Discovery will maintain a presence in Maryland and in Sterling, Virginia, as well as the former Scripps headquarters home of Knoxville, Tennessee.
