The New York Times
Scripps Networks, the operator of the Food Network and HGTV, is close to adding the Travel Channel to its stable of lifestyle cable channels.
Scripps appeared on Monday to be the leading bidder after the News Corporation balked at the escalating price for the channel, a person with knowledge of the auction said. The most recent bids exceeded $1 billion, the person said.
Last week Cox Communications, the owner of the channel, was said to be entertaining bids from a number of media companies, including Scripps and News Corporation. When Cox was first approached about a potential sale in June, analysts said the channel could command $600 million to $700 million. Bids had reached $900 million by last week. More…