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Discovery Communications (DISCA) stock jumped Monday on speculation that the multichannel television producer is a takeover target. A report late Sunday by the Australian Financial Review said that 21st Century Fox (FOXA) held preliminary merger talks with Discovery about two weeks ago. A Fox spokesperson responded to the article, saying, “The story is categorically untrue.” Discovery declined to comment. The idea that Discovery might be in play excited Wall Street. “If the parties, as they maintain, are not talking, we think they ought to have a chat,” Bernstein analyst Todd Juenger said in a research note Monday. “We believe a merger between FOXA and DISCA would make strategic sense on a number of levels.” Discovery owns such channels as Discovery Channel, Animal Planet and Science, with such popular shows as “Gold Rush,” “Deadliest Catch” and “MythBusters.” The combination of Discovery and Fox would create a dominant player in international cable… Scalper1 News
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