Scripps Networks Interactive stock is off and so is merger mania at the cable lifestyle giant, at least for now.
The company, which reported second-quarter earnings Thursday, has seen its stock fall from a high of $85.55 on July 17 — just a day after news of 21st Century Fox’s $80 billion bid for Time Warner — to $77.43. It closed off 5.6 percent in Thursday’s session.
Scripps, home of HGTV and Food Network, had been the subject of takeover talk in Discovery Communications’ boardroom, but no deal materialized, and the company told analysts it was doing just fine without scale given the lure of its niche.
Despite that, Scripps is still widely viewed as a takeover candidate.
Earnings were down 3.7 percent to $153.8 million, or $1.07 per share; excluding special items, earnings were $1.14 per share.
Consolidated revenue at the Tennessee-based firm rose 6.5 percent to $708.1 million. Analysts had expected earnings to come in at $1.13 a share on revenue of $710 million.
So far this year, Scripps shares are off 10 percent.