Discovery finalizes purchase of Knoxville-based Scripps Networks Interactive

SILVER SPRING, Md. (WATE) - Discovery Communications announced Tuesday it has completed its purchase of Knoxville-based Scripps Networks Interactive, and the combined company will simply be known as Discovery, Inc.

The company says the name change reflects a new focus on "growth in the areas at which Discovery excels, telling stories across deeply loved genres and empowering superfans to explore their world wherever and whenever they choose," according to a news release.

Discovery said earlier this year it is closing its Silver Spring, Maryland operation, moving its national operations headquarters to Knoxville and relocating global operations to New York City.

Discovery agreed to purchase Scripps Networks Interactive for $14.6 billion in July 2017.

“Today marks another critical milestone for Discovery, as we become a differentiated kind of media company with the most trusted portfolio of family-friendly brands around the globe,”

said David Zaslav, President and Chief Executive Officer for Discovery.

“As a new global leader in real life entertainment, Discovery will serve loyal and passionate audiences around the world with content that inspires, informs and entertains across every screen; deliver new ways for advertisers and distributors to reach highly targeted audiences at scale; and leverage our leadership position to create new value and growth opportunities for all of our stakeholders.”