January 10, 2018

GOOD NEWS FOR KNOXVILLE: Discovery moving ops HQ to Scripps in Knoxville.

Instead of closing the Knoxville campus of Scripps Networks Interactive, Discovery Communications will move its national operations headquarters to Knoxville, the company announced Tuesday.

At the end of August, Scripps and Maryland-based Discovery announced that Discovery would buy Scripps in a cash-and-stock deal worth $14.6 billion. The deal includes Discovery’s assumption of Scripps’ $2.7 billion debt, and is expected to close in early 2018.

Scripps’ roughly 1,000 Knoxville employees have been uncertain how the sale would affect their jobs. While the fate of individual jobs remains unknown, Discovery plans to keep Scripps operations here and expand.

Another company moving from a high-tax/high-cost blue state to a low-tax/low-cost red state.