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

Editors Pick
Automaker General Motors reported a profit for the third quarter that doubled from last year, helped by strong truck sales in North America and continued strength in China. In addition, the prior-year quarter's results were negatively impacted by charges related to the company's ignition switch recall. Both revenue and adjusted earnings per share for the quarter beat analysts' estimates. Consumer goods giant Procter & Gamble Co. on Tuesday reported a 4 percent increase in profit for the first quarter from last year on a slight decline in sales. However, both revenue and core earnings per share for the quarter beat analysts' estimates. In addition, the company affirmed its financial outlook for fiscal 2017. Merck & Co. Inc. (MRK) reported a profit for the third-quarter that increased about 20 percent, while quarterly worldwide sales grew 5 percent. The company raised its full-year 2016 outlook.
comments powered by Disqus
Follow RTT