Discovery Communications and Scripps Networks Interactive, parent company of Food Network, are in merger talks, people familiar with the matter told Reuters on Tuesday.
The companies did not confirm the information. This would be the second time they analyze the possibility of a merger since the two media companies broke off previous merger talks in 2014. According to Reuters, Scripps is looking for a buyer at a time when it and other smaller companies are under pressure to grow to give them negotiating power with pay TV operators.
The sources also said that Viacom has held talks to acquire Scripps. Reuters reported that Discovery, Scripps and Viacom declined to comment. All these companies have presence in Latin America.
Scripps Networks Interactive develops lifestyle content in the home, food and travel categories for television, the internet and emerging platforms. The company is present in Latin America with Food Network, which was launched first in Brazil, in October 2014, and then in the rest of the region.