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Viacom lusting for Discovery - Broadcasting & Cable

Viacom lusting for Discovery

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Sumner Redstone is the latest mogul to take a run at acquiring Discovery
Communications Inc.

At Salomon Smith Barney's media investor conference in Scottsdale, Ariz.,
last week, the Viacom Inc. chairman acknowledged that he reached out to Liberty
Media Corp. chairman John Malone, who controls 49 percent of the cable
programmer, to try to cut a deal.

Malone, speaking later, said, 'They were all over us on Discovery. They were
talking about prices that would be shockers.'

Analysts value Discovery at around $13 billion. But Malone said he's not
ready to sell.

Although Discovery got knee-deep into discussions with NBC about a takeover
this past summer, a network executive said Redstone's approach never got any
further than Malone.

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