Scripps Beats News Corp for Stake in The Travel Channel (SNI,NWSA)

11/5/2009 - Scripps Networks Interactive (NYSE:SNI) will pay $181 million to privately held Cox Communications for a 65% stake in The Travel Channel. Scripps beat competing bidder News Corporation (NASDAQ:NWSA) in its attempt to acquire a controlling stake in the channel. The Travel Channel's hit shows include "Anthony Bourdain: No Reservations", "Man v. Food", "Madventures" and "Most Haunted." The channel is valued at $975 million, and the venture will take on $878 in debt.

Write to Chip Brian at cbrian@tradethetrend.com

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