You will be redirected back to your article in seconds

Yahoo Has Not Approached Scripps About Buying Food Network: Sources

Contrary to a report that Yahoo held discussions with Scripps Networks Interactive about the possibility of acquiring Food Network or the whole company, two individuals with direct knowledge of the situation said Yahoo has not even made overtures to SNI about any prospective deals.

A report Thursday by Business Insider, citing an anonymous source, said Yahoo entered into talks with SNI to acquire Food last year. Those discussions then progressed to explore the potential of Yahoo buying the entire company, whose other networks include HGTV and Travel Channel, according to the BI story.

However, while Yahoo mulled buying Food or other Scripps properties internally, the Internet media company has not — either formally or informally — ever approached SNI about a potential deal, according to the sources. The companies haven’t had any such discussions to date. Scripps Networks currently has a market cap of more than $10 billion; Yahoo had about $10.3 billion in cash and equivalents as of Sept. 30, 2014.

Reps for Yahoo and SNI declined to comment. “We don’t comment on rumors or speculation,” a Yahoo spokeswoman said.

Yahoo also “may have interest in buying CNN,” according to the BI report. Reps for CNN did not respond to requests for comment; a spokesman for parent company Time Warner declined to comment.

The BI report was written by Nicholas Carlson, whose book “Marissa Mayer and the Fight to Save Yahoo” is slated to be released Jan. 6.

Chatter about Yahoo’s supposed interest in cable TV comes after the company landed a windfall of billions in cash following the blockbuster IPO of Chinese e-commerce giant Alibaba Group. Since then, there’s been copious speculation about what Yahoo might do with the money, including suggestions it could merge with AOL.

Since Alibaba’s September IPO, Yahoo has clinched one major deal — announcing a pact in November to acquire BrightRoll, a programmatic video-advertising platform, for $640 million in cash.

In late 2013, Discovery Communications held preliminary talks with SNI about an acquisition, as first reported by Variety. However, that deal never came to pass.

More TV

  • Contract Placeholder Business WGA ATA Agent

    Signs of Solidarity and Strain Emerge as Week 2 of WGA-Talent Agency Standoff Begins

    Hundreds of WGA members rallied solidly behind their union last week as the industry grappled with uncertainties spurred by the sudden break between writers and their talent agency representatives. But as the standoff heads into its second week, signs of strain among some WGA members are beginning to emerge. Shalom Auslander, author and creator of [...]

  • Jon Snow Arya Stark Game of

    'Game of Thrones' Final Season Vegas Odds Reveal Wild Theories

    With “Game of Thrones” hype at an all-time high, Las Vegas may be raking in as much money as the Iron Bank. HBO’s fantasy masterpiece has seized the gambling world’s attention nearly as much as the Super Bowl or Kentucky Derby. Fans spew countless theories on social media, such as which characters will be axed [...]

  • FX's 'Snowfall' Panel TCA Winter Press

    John Singleton Hospitalized After Suffering Stroke

    UPDATED with statements from John Singleton’s family and FX Networks John Singleton, the Oscar nominated director and writer of “Boyz N’ the Hood,” has suffered a stroke. Sources confirm to Variety that Singleton checked himself into the hospital earlier this week after experiencing pain in his leg. The stroke has been characterized by doctors as [...]

  • Adam Lambert, of Queen, performs at

    Adam Lambert Back to 'Idol' to Mentor Finalists Through Queen's Catalog

    Adam Lambert famously launched his career on “American Idol” a decade ago performing a brilliant audition of Queen’s “Bohemian Rhapsody.” He wrapped that amazing eighth season performing with the band on the season finale, and years later earned his current spot as the front man touring as Queen + Adam Lambert. On April 28, Lambert comes full circle as he steps [...]

  • Lily Tomlin SAG Lifetime Acheivement Award

    TV News Roundup: Netflix's 'Laugh-In' 50th Anniversary Tribute Sets Premiere Date

    In today’s TV News roundup, Netflix sets the premiere date for its 50th anniversary special of “Laugh-In.” DATES “Laugh-In: The Stars Celebrate,” the 50th anniversary tribute to the original series by Dan Rowan and Dick Martin, will premiere on Netflix on May 14. The special, which was taped at the Dolby Theater in Hollywood, pays [...]

  • Texas Tech's Norense Odiase (32) shoots

    Live+3 Ratings for Week of April 8: NCAA Championship Game Dunks on Competition

    The final of the 2019 NCAA basketball tournament, in which Virginia triumphed over a spirited Texas Tech team, unsurprisingly finished way out in front in the Live+3 ratings for the week of April 8. Although the sports broadcast’s scripted competition made some gains, its 5.4 ratings still more than doubled that of “Grey’s Anatomy” in [...]

  • Mueller Report Release Draws 11 Million

    Mueller Report Release Draws 11 Million Total Viewers Across TV News

    Coverage of the release of special counsel Robert Mueller’s report into whether President Donald Trump committed obstruction of justice unsurprisingly caused a ratings bump across TV news yesterday. In terms of overall viewership, around 11 million people tuned in to see Attorney General William Barr’s news conference regarding the report’s release, and the news coverage surrounding it. According [...]

More From Our Brands

Access exclusive content