U.K.-based company sold for $103 million
The Travel Channel airs in 20 languages across Europe, Africa, the Middle East and the Asia Pacific region. Additionally the company produces and commissions travel shows that are distributed in 91 countries. Outfit’s 46 London staff will join Scripps Networks Interactive when the deal is complete. Richard Wolfe, chief executive of TCI, said. “Scripps Networks Interactive is the natural home for Travel Channel Intl. Combining TCI’s reach and resources in our territories with those of SNI’s U.S. Travel Channel creates a new worldwide brand with powerful synergies in programming and advertising.” Kenneth W. Lowe, chairman, prexy and CEO of Scripps Networks Interactive, added, “TCI increases our footprint in Europe and Asia, building on the solid foundation we’ve established for the continued international growth of our brands.” Scripps, based in Knoxville, Tn., owns a 50% stake in UKTV, Blighty’s second-biggest multi-channel provider after BSkyB.
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