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Article: Scripps Networks Interactive to Acquire Controlling Interest in Travel Channel.
- Article from:
- Business Wire
- Article date:
- November 5, 2009
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Scripps Will Control 65 Percent of Leveraged Joint Venture with Cox Communications
CINCINNATI -- Scripps Networks Interactive Inc. (NYSE: SNI), owner and operator of the Food Network and HGTV lifestyle television networks, will enter into a joint venture with Cox Communications Inc. by which it will acquire a controlling interest in the Travel Channel.
The two companies today signed a definitive agreement that, upon completion, will result in Scripps Networks Interactive owning 65 percent of the Travel Channel and Cox Communications retaining a 35 percent minority stake in the network.
The Travel Channel transaction is expected to be completed ...