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Viacom willing to make all-cash deal to buy Scripps

Making an all-cash bid would mark an aggressive move for Viacom Chief Executive Bob Bakish


Viacom Inc has informed Scripps Networks Interactive it is willing to pay all cash to acquire the US TV network operator, sources familiar with the matter said. The move by Viacom, which had $12.17 billion in debt as of March 31, could potentially mean that the $14.3-billion media company would lose its investment-grade status to buy the $10.6-billion Scripps. Last year Moody’s downgraded Viacom’s debt to the lowest level of investment grade — a status they would likely lose as a result of the deal. Viacom is bidding for Scripps, which owns channels such as HGTV, ...

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First Published: Thu, July 27 2017. 00:56 IST