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Scripps Networks Interactive CFO Joe NeCastro said today that the company was in no hurry to buy the remaining stake in Food Network still owned by Tribune on the company's second-quarter earnings call. "We're not gonna do anything overly aggressive to overpay for that network," he told investors. "We are keenly aware of the benefits of increased leverage; we just want to make sure we're using it most appropriately."
Tribune emerged from Chapter 11 with a new board of trustees in January; the recovery has prompted much speculation about SNI's eventual purchase of the company's profitable stake in Food Network.
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