Scripps Acquires Travel Channel Int"l For Â£65m
US-based channel operator Scripps Networks Interactive is to acquire Travel Channel International Limited (TCI), a UK-based company that distributes the Travel Channel Int’l across EMEA and Asia Pacific.
Valued at £65 million, the deal is Scripps’ second major acquisition following last year’s purchase of a 50% stake in UKTV. It means TCI will now be under the same ownership as Travel Channel US, already a Scripps-owned TV channel.
Commenting on the deal, SNI CEO Kenneth W. Lowe said: “We are looking forward to integrating Travel Channel International into (our) portfolio of lifestyle networks. TCI brings unique value to us as we establish our brands in the global market. We’re enthusiastic about sharing our lifestyle programming expertise internationally, engaging a new set of passionate media consumers overseas, and increasing our footprint in Europe and Asia, building on the solid foundation we’ve established for the continued growth of our brands.”
A relatively new name to viewers outside the US, SNI is a leading player in lifestyle-oriented content. Aside from TCI/Travel Channel and its 50% share of UKTV, its portfolio includes HGTV, Food Network, DIY Network, Cooking Channel and Great American Country.