Tweet

Scripps, News, NBCU Seen Bidding on Travel Channel

Cox-Owned Network Is Valued Between $600-700 Million

by Mike Farrell -- Multichannel News, 8/24/2009 2:00:00 AM

Scripps Networks Interactive, News Corp. and NBC Universal are among the first round of bidders for Cox Communications' majority interest in the Travel Channel, according to published reports.

Cox acquired the Travel Channel in 2007 after it restructured its interest in Discovery Communications. It received cash and the channel in return for its 25% stake in Discovery.

The Atlanta-based media giant hired New York investment bank Goldman Sachs in June to explore strategic alternatives, including joint ventures and a possible sale of the channel, home to such shows as Bridget's Sexiest Beaches.

Cox held the first round of bidding on Aug. 19, according to reports in Bloomberg News and Reuters. A second round has not yet been scheduled.

According to those reports, NBCU, News and Scripps were among the bidders.

While it could not be determined how much either party bid for the channel, analysts have valued the network at between $600 million and $700 million.

Other bidders that were expected to join the fray include Time Warner Inc., Comcast and IAC/InterActiveCorp.

NBCU senior vice president of communications Kathy Kelly-Brown and Scripps Networks vice president of communications and investor relations Mark Kroeger declined to comment. Officials with News Corp. and Cox Communications also declined to comment on the auction.

While the Travel Channel is fully distributed — it is in 90 million homes — and occupies a niche that could fit in well with Scripps, News and NBCU, one roadblock to the deal could be Cox's reported insistence that it retain an interest in the network for tax purposes.

Tweet

Talkback

We would love your feedback!

Post a comment

» View All Talkback Threads

Related Content

• Topics
• Author

No related content found.

Also by this author

• Analysis: Broadcasters Hopping Mad Over Dish's Ad-Skipping DVR

• Cox, Media General at Retrans Impasse

• Knology Sets Date for Special Shareholders' Meeting

• Liberty Global Completes Austar Sale

• Longkloof Sweetens New Frontier Offer

More >>>

• Resource Center
• Browse Categories
• Browse Companies

Featured Company

• Telestream

  

  Telestream products are used by the world's leading media and entertainment companies and corporations for transcoding and workflow automation. Telestream helps customers transform their media for multiplatform distribution to web, mobile, DVD, cable VOD, podcast and broadcast pl..more

---

Most Recent Resources

• The New Normal for Promoting Tune-in
• Infrastructure Design for High Volume Video Workflows
• Improving the Internet TV and Mobile Video Experience – an Adap..
• Increasing Efficiency in Digital Distribution of Media
• The Local Origination/Leased Access Metamorphosis