2 Major Cable TV Stocks Rise On Discovery/Scripps News

Two cable network groups -- AMC Networks and Viacom -- witnessed higher stock pricing in mid-day Wednesday trading, on the same day that merger news broke concerning Discovery Communications and Scripps Networks Interactive.

AMC stock was up 4% to $59.23. AMC Networks has been the subject of a possible acquisition among several cable network groups for several years.

Viacom stock rose 2% to $36.17. Viacom has been the subject of merger talks in the past, as a possible acquirer of companies like AMC Networks.

Also on Wednesday, AMC Networks proposed a public offering of $500 million of senior notes, intended to repay about $450 million in loans. Year-to-date, AMC Networks’ stock has been up 18%.

AMC has a market capitalization of $3.8 billion, while Viacom's market capitalization is $14.8 billion. Discovery Communications has a $9.9 billion market cap and Scripps Networks Interactive is at $8.7 billion.

In June, Comcast Corp. said it would offer a commercial-free version of AMC Network programming, called AMC Premiere, for an extra $5 a month.

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