WALL STREET PAYDAY: Banks could reap $100 million from the Discovery-Scripps deal
Thomson Reuters
Discovery, which owns channels like Animal Planet and Discovery Channel, said Monday it will pay $14.6 billion to acquire Scripps, adding HGTV, Travel Channel, and Food Network to its roster.
Six banks - including boutiques Guggenheim Partners, Allen & Co., and Evercore - advised on the deal.
Guggenheim and Goldman Sachs advised Discovery, and they'll split the vast majority of about $45 million in fees, according to Jeffrey Nassof, director of consulting firm Freeman & Co.
UBS will take a small slice for advising Discovery shareholders rather than the company overall.
Scripps' bankers, Allen & Co. and JPMorgan, will split the lion's share of an estimated $55 million in advisory fees, Nassof said.
Evercore will take a much smaller cut for advising the shareholders, primarily the Scripps family, which is one of the wealthiest families on earth with a fortune north of $7 billion.
Get the latest Goldman Sachs stock price here.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market