Scripps Acquires Travel Channel
There haven’t been too many media deals recently, so today’s announcement is exciting. Scripps Networks Interactive Inc., which currently owns the lifestyle cable channels Food Network and HGTV, announced today that it has entered into a joint venture with Cox Communications that will result in Scripps owning a controlling interest in the Travel Channel — valued at $975 million.
The transaction, which is expected to close in January, will leave Cox with a 35 percent stake in the Travel Channel, while Scipps will own 65 percent.
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