Discovery Buying Scripps

The trend of consolidation in the telecom and media industry continues as Discovery is making a deal to buy Scripps (Food Network and HGTV home improvement) for $11.9b (value of $90 per share), beating out rival Viacom who also wanted Scripps.

To own Scripps would mean Discovery will control 20% of the ad-supported pay-TV audience in the US and would take Scripps' content to 220 countries and territories. Discovery will also gain leverage in negotiating with advertisers and distributors.

There is analysis, however, that both are making the deal from positions of weakness after showing lower-than-predicted revenues.

Discovery has made attempts to buy Scripps occasionally over the past 9 years, but they couldn't agree on a price.

The industry is tending toward making big cuts in costs and increasing scale in the face of the current media consumption environment.

Canada Bans Cellphone Unlocking Fees, Orders All New Devices Be Unlocked

The new rules start December 1.

From then on, all new phones must be unlocked. And for phones people already own, they can ask their provider to unlock it, and unlocking it has to be free, according to the CRTC.

Currently, telecoms stock stores with phones that they make sure are locked (so users can only use their service). To unlock it, they charge around $50.