Scripps Networks Interactive said it has acquired the remaining 35% interest in Travel Channel Media from Cox Communications for $99 million in cash, which includes the value of certain tax benefits…
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Food Network and Travel Channel parent Scripps Networks Interactive saw profits jump last quarter, in part on favorable tax adjustments, as ad sales rose 5% and affiliate fees grew 18%.
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Scripps Networks Interactive, parent of Food Network, HGTV and The Travel Channel, said strong advertising and affiliate revenue boosted profit last quarter despite hefty programming costs.
LONDON -- Scripps Networks Interactive has bought U.K.-based Travel Channel Intl. for £65 million ($103 million).
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