Scripps Networks Buys Travel Channel International for $103M

The deal gives the owner of HGTV and Food Network a chance to broaden its global portfolio of lifestyle brands

Scripps Networks Interactive will buy Travel Channel International Limited (TCI) for roughly $103 million, the companies said Thursday. 

The deal gives Scripps, the owner of Food Network and Home and Garden Television, a chance to expand its portfolio of lifestyle networks and to extend its global reach. 

The U.K.-based Travel Channel International produces original travel programing in 91 countries.  It also distributes the Travel Channel in 20 languages throughout Europe, Asia, Africa and the Middle East.

In recent years, Scripps has been increasingly interested in bolstering its international operations, launching Food Network Asia and Food Network Africa. 

Scripps already owns the U.S. based Travel Channel, so there are other natural synergies between the two companies. 

The sale is expected to be completed in the second quarter of 2012 pending regulatory approval. The company's 46 London-based employees will join Scripps after the acquisition is wrapped up, the company said. 

 

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