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Viacom walked away from a potential $11 billion bid for Scripps — here are the companies it'd be better off buying [The Business Insider]

Via Renewables, Inc. - Class A (VIA) 
US:NASDAQ Investor Relations: ir.viacom.com
Viacom walked away from a potential $11 billion bid for Scripps — here are the companies it'd be better off buying Up until late Wednesday it looked as though Viacom was very serious about acquiring Scripps Networks, which is valued at upwards of $11 billion. But now the Wall Street Journal is reporting that Viacom is out of the Scripps sweepstakes, leaving Discovery Communications alone in the bidding. That's a good thing for Viacom, because there are so many other things it could buy with that kind of money that have the potential to transform its business. Reuters had been reporting that Viacom, which owns networks like MTV and Comedy Central, was willing to pay cash for Scripps, owner of networks like Food Network and HGTV. Putting aside whether a company saddled with loads of debt should be spending anywhere near that kind of money, the logic was as follows: In other words, Viacom was looking at Scripps as a way to shore up that sweet dual revenue cable model. Here's the thing Show less Read more
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