Discovery to acquire Takhayal Entertainment Discovery (DISCA) announced an agreement to acquire Dubai-based media company Takhayal Entertainment and its affiliated companies in Dubai and Egypt, including its flagship TV network, Fatafeat. The parties are in final stages of formalizing the transfer with the competent authorities. The transaction is a targeted step by Discovery to further extend its reach in the growing Middle East and North Africa television market. Reference Link
Discovery downgraded to Hold from Buy at Pivotal Research Pivotal Research downgraded Discovery to Hold based on valuation and lowered its price target to $35 from $39 based on an updated cost of capital.