U.S. media company Discovery Communications Inc
Discovery has entered into exclusive talks with Scripps after prevailing over a rival offer from Viacom Inc
While a deal could come as early as next week, negotiations are ongoing and no agreement is certain, the sources added.
The exact value of Discovery`s offer could not be learnt, but sources said it is a cash-and-stock bid, comprising mostly cash, and valuing Scripps in the region of $90 per share.
The sources asked not to be identified because the negotiations are confidential. Viacom, Scripps and Discovery declined to comment.
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