The reunification of Sumner Redstone's media empire will create "a world-class, multiplatform media organization," his daughter says.
The combination with Scripps Networks Interactive is expected to give Discovery more clout as it negotiates with cable distributors and advertisers.
The company's overall top line beat estimates but investors have been "spooked by signs of a weaker ad market."
The disclosure of the legal costs arrangement follows Sumner Redstone's move to oust five board members including CEO Philippe Dauman.
Former FP&A exec says she was fired because she opposed a plan to transfer licensing rights overseas to avoid U.S. taxes.
But some CEOs were paid well even though the company delivered lower shareholder returns.
The final revenue recognition standard from FASB and the IASB might make reporting on sales a tad less complex, but some implementation challenges remain.
