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News Corp. May Drop Travel Channel Bid

Price of $1.1 billion thought to be too high

News Corp. may drop its bid for the Travel Channel because parent company Cox Enterprises wants $1.1 billion for the cable channel, a price the media conglomerate thinks is too expensive, a source with knowledge of the bids said on Monday.

News Corp. and Scripps Networks Interactive as of last week were considered to be the lead bidders for the Travel Channel.

Read more at Reuters.