News Corp. Said To Be Frontrunner For Travel Channel
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News Corp. (NYSE: NWS) is now considered to be the favorite to win the Travel Channel auction, the FT reports, citing sources. Cox put a majority stake in the cable network up for sale in July. Back then—and as recently as last month—Scripps Networks Interactive (NYSE: SNI) was considered the favorite.
SEE ALSO: Cox Sells Three Newspapers; Looking To Sell Majority In Travel Channel
Both Scripps and a PE group led by Providence Equity Partners, however, remain in the bidding. Last month, the FT reported that bids had come in “substantially ahead of initial expectations;” a sale could reportedly value the Travel Channel, which has 100 million subscribers, at $800 million or more.
Posted In: Media & Publishing, TV, Cable & Telecom, Money, M&A & Venture Capital, Mergers & Acquisitions, Companies, News Corp., Scripps, Scripps Networks Interactive
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