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Article: Cox Communications Announces Definitive Agreement for Joint Ownership of Travel Channel Media With Scripps Networks Interactive.
- Article from:
- Entertainment Newsweekly
- Article date:
- November 20, 2009
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Cox Communications, Inc. announced its intent to form a joint venture with Scripps Networks Interactive, Inc. (NYSE:SNI), for ownership and management of Travel Channel Media. Scripps Networks Interactive will control the joint venture and the network will be run as part of the company's growing portfolio of popular lifestyle media brands. This concludes an exploratory process that Cox began with their exclusive advisors Goldman, Sachs & Co. in June.
Under the terms of the agreement which is effective today and anticipated to close over the next few months, Cox will maintain a 35 percent stake in Travel Channel Media while Scripps will have a 65 percent interest. ...