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Fly News Breaks for July 19, 2017
SNI, DISCA
Jul 19, 2017 | 12:00 EDT
Credit Suisse analyst Omar Sheikh noted The Wall Street Journal said that Discovery (DISCA) and Scripps Networks (SNI) are in merger talks, but added that his initial view is that the report has "low credibility." Previously reported talks between the two likely failed because the price and structure of a deal couldn't be reached and Sheikh tells investors that he "struggles to see what might have changed." He keeps an Underperform rating on Discovery, though he acknowledged that high short interest in the stock makes a rally on the news likely.
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