Scripps scraps channels sale

International thematic channel operator Scripps Network Interactive has abandoned plans to sell its bouquet of channels and authorized a US$1 billion (€700 million) share buyback.

The company, which operates channels including The Food Network, the Travel Channel, the Cooking Channel and HGTV, had originally hired an investment bank to review its options after “consistent expressions of interest” from private equity firms and media companies. 
However, the US company decided not to pursue a sale and opted for the share buyback instead.