FONT-SIZE Plus   Neg

Scripps Networks To Acquire Travel Channel International For GBP 65 Mln

Scripps Networks Interactive Inc. (SNI) Thursday said it reached an agreement to acquire UK-based Travel Channel International Limited, or TCI, for 65 million pounds.

The company produces and commissions original travel programming for distribution in 91 countries. It distributes the Travel Channel brand in 20 languages across Europe, Africa, Middle East and Asia Pacific regions.

The deal is expected to be completed in the second quarter. Scripps Networks plans to integrate Travel Channel International into its portfolio of popular lifestyle networks.

Formed in 2004, TCI has affiliate agreements with about 850 distributors. The company's 46 full-time employees in London will join Scripps Networks Interactive when the deal is completed.

Richard Wolfe, chief executive of TCI, said, "Combining TCI's reach and resources in our territories with those of SNI's U.S. Travel Channel creates a new worldwide brand with powerful synergies in programming and advertising."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Xbox Live users are aggravated about repeated outages that have prevented gamers from accessing online multiplayer features. Blaming higher egg prices and other rising costs, Dunkin's Donuts will close 100 stores, all of them Speedway gas station and convenience store locations. Micron Technology, Inc. said that its fourth quarter profit fell 59% from last year, as sales declined and gross margins deteriorated amid weak demand and pricing pressures due to continued softness in the personal computer market. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly sales.
comments powered by Disqus
Follow RTT