Scripps Picks Up The Travel Channel In $975 Million Deal

travel channel

Scripps Networks (SNI) is buying the Travel Channel from Cox Communications in a deal valued at $975 million.

Scripps and Cox will enter a joint venture that owns the cable network, with Scripps owning 65% and Cox owning 35%. Scripps will kick in $181 million in cash, and pay for the rest with debt. The venture will have $696 million in net debt.

Scripps owns the Food Network and HGTV, so adding the Travel Channel and its 95 million subscribers will be a nice addition to its portfolio. The deal is expected to close in January.

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