Scripps Networks buys Travel Channel
March 22, 2012
Scripps Networks is to acquire Travel Channel International Limited (TCI), the UK company that distributes the Travel Channel brand in 20 languages across Europe, Africa, Middle East and Asia Pacific regions. The company produces and commissions original travel programming for distribution in 91 countries.
Scripps Networks Interactive will pay £65 million (€78m) to acquire TCI. The transaction is expected to be completed in the second quarter of 2012 pending regulatory approval.
“Scripps Networks Interactive is the natural home for Travel Channel International,” said Richard Wolfe, chief executive of TCI. “Combining TCI’s reach and resources in our territories with those of SNI’s US Travel Channel creates a new worldwide brand with powerful synergies in programming and advertising.”