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Cox Closes Discovery Deal

Travel Channel Transaction Originally Announced March 20

By Multi Channel News Staff -- Multichannel News, 5/14/2007 7:01:00 AM

Cox Communications and Discovery Communications said they closed the exchange of Cox’s 25% stake in Discovery for Travel Channel and Travel Channel.com parent Travel Media and $1.3 billion in cash.

The companies announced the deal March 29.

Travel Media’s ownership of Antenna Audio was initially part of the deal, but was later left out of the transaction, the companies said Monday.

With the transaction complete, two-thirds of Discovery Communications is owned by Discovery Holding and the remaining one-third is owned by Advance/Newhouse Communications.

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