Discovery completes acquisition of Scripps
Discovery Communications announced Tuesday it completed its acquisition of the media company Scripps Interactive, which operates channels such as Food Network, HGTV and Travel Channel. The $14.6 billion deal was first announced last summer and Discovery said the acquisition was part of the reason when announcing in early January it would move out of its Silver Spring headquarters.
The company also announced that it will now will be known as Discovery Inc. The merger is expected to help the company grow, company officials said in the announcement.
Discovery CEO David Zaslav told Variety Tuesday the combined companies will better be able to target male and female demographics and their shows can be packaged in streamable bundles as television viewers shift from traditional cable TV packages.
He said the new company will immediately work to translate Scripps content into some 48 languages in order to distribute the shows in areas where Discovery already distributes content.
The completion of the merger also means Discovery is likely to move forward with decisions related to employees based in downtown Silver Spring. The company plans to vacate its headquarters building at the corner of Colesville Road and Georgia Avenue next year.
Discovery spokesman David Leavy told Bethesda Beat in January when the company announced its plans to leave Silver Spring that it would provide more information to Silver Spring-based employees about their positions after the Scripps acquisition was finalized.
Leavy said at the time the company will evaluate positions at Scripps and Discovery to decide which employees will be part of the company’s transition.
“In any big acquisition, you want to take the best from ‘A’, the best from ‘B’ to build ‘C’,” Leavy said. “We still need to do that.”
The company is moving its headquarters to New York City and its operations headquarters to Knoxville, Tennessee, where Scripps is located.
Spaces to open flexible office workspace at Chase Tower
Image via Spaces
Spaces, one of the budding flexible office space and real estate companies similar to WeWork, plans to open a new 19,300-square-foot flexible office space location at Chase Tower on Willard Avenue in Chevy Chase near the Washington, D.C., line later this month.
The new location will have 208 dedicated desks, a 2,000-square-foot “business club” and private offices in a communal work area that businesses or freelancers can rent on a flexible basis. There are also two meeting rooms.
Spaces plans to open the location March 19, according to a company spokesperson.
Righttime Medical Center coming to downtown Bethesda area building
Righttime Medical Center is coming to 4507 Stanford St.
A medical facility that provides walk-in treatment for common illnesses and minor injuries has leased a 5,500-square-foot space on the first floor of the 4507 Stanford St. building on downtown Bethesda’s border with Chevy Chase.
Washington Property Co., which owns the building, announced the lease with Righttime Medical Center. The medical facility plans to open this summer. The location will be Righttime’s 16th in Maryland.
Washington Property Co. bought the building in July 2017 for $4.46 million. It’s the former home of Mark Keshishian and Sons, a rug seller that operated there for nearly 50 years before relocating to Rockville.