Fine Living net adds mag

Cabler buys 49% stake in Cachet

Scripps Networks’ Fine Living cable network, in development for a March launch, has purchased 49% of a magazine in development called Cachet.

That’s the word from Ken Solomon, president of Fine Living, who said he’ll rename the mag after his company and aim for a March debut for the free-circulation monthly. Plan is to package the magazine with newspapers in 1.3 million homes situated in many of the upscale zip codes Fine Living is hoping to reach. The magazine and the cable net will each promote the other.

The acting editor-in-chief of the magazine is Maggie StaatsSimmons, who helped launch such magazines as Conde Nast Traveler, Connoisseur and Travel Holiday. Publisher is Peter Hager.

The only cable operator signed up so far for the Fine Living network is Time Warner, which has agreed to deliver 5 million of its subscribers at the end of the second year.