Currency

Scripps Completes Travel Deal for $99M

Net also sells stake in Fox Sports South 2/25/2016 05:14:00 PM Eastern

Scripps Networks Interactive, just two days after announcing it had notified Cox Communications of its intention to purchase the remaining 35% of The Travel Channel it didn’t already own, said it has completed that transaction for $99 million in cash.

In a separate move, Scripps said it sold its 7.25% interest in Sports South and Fox Sports Net South to Fox Southern Holdings for $225 million in cash on Feb. 24.

The Travel Channel deal includes the value of certain tax benefits and gives SNI full ownership of the channel in which it originally purchased a controlling interest in 2009.

Go to Multichannel.com for the full story.

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