Scripps will pay US$65 million (€50 million) to buy TCI, operator of the Travel Channel, with the transaction expected to complete by July. TCI distributes the Travel Channel brand in 20 languages across Europe, Africa, the Middle East and Asia Pacific regions. It also produces and commissions original travel programming for distribution in 91 countries.
Scripps already operates its own Travel Channel in the US. In the UK, it distributes the Food Network and has a 50% stake in pay TV channel company UKTV.
“Scripps Networks Interactive is the natural home for Travel Channel International,” said Richard Wolfe, chief executive of TCI. “Combining TCI’s reach and resources in our territories with those of SNI’s US Travel Channel creates a new worldwide brand with powerful synergies in programming and advertising.”
“We are looking forward to integrating Travel Channel International into Scripps Networks Interactive’s portfolio of popular lifestyle networks,” said Kenneth Lowe, chairman, president and chief executive officer of Scripps Networks Interactive. “TCI brings unique value to us as we establish our brands in the global media marketplace. We’re enthusiastic about sharing our lifestyle programming expertise internationally, engaging a new set of passionate media consumers overseas, and increasing our footprint in Europe and Asia, building on the solid foundation we’ve established for the continued international growth of our brands.”