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Article: Scripps Networks Interactive Set to Acquire Controlling Interest in Travel Channel.
- Article from:
- Entertainment Close-up
- Article date:
- November 12, 2009
CopyrightCOPYRIGHT 2009 Close-Up Media, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Scripps Networks Interactive Inc., 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 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 by or before January 2010.
"Combining the Travel Channel with Food Network and HGTV will make our fast-growing, ...