Cox Communications has announced its intent to form a joint venture with Scripps Networks Interactive for ownership and management of Travel Channel Media. Scripps will control the joint venture and the network will be run as part of the company’s portfolio of lifestyle media brands. This concludes an exploratory process that Cox began with their exclusive advisors Goldman, Sachs & Co. in June.

Under the terms of the agreement, which is effective today and anticipated to close over the next few months, Cox will maintain a 35 percent stake in Travel Channel Media while Scripps will have a 65 percent interest. Cox will contribute the Travel Channel and Scripps will contribute $181 million in cash to a newly created partnership. The partnership, in turn, will take on $878 million in third-party debt that will be guaranteed by Scripps and indemnified by Cox, with the proceeds to be distributed to Cox.

The Daily

Subscribe
Wednesday–April 24

Tubi, DAZN Ink FAST Collab

The sports platform DAZN is teaming up with Tubi to roll out the FAST channels DAZN Ringside and DAZN Women’s Football in the U.S. and DAZN TV and DAZN Women’s Football in

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up

Calendar

Apr 25
2024 Cablefax 100 Awards Magazine Release: April 25, 2024
Jun 13
2024 American Broadband Congress Conference Registration is Open!
Jun 26
2024 FAXIES Awards Nominations Are Open!
Full Calendar

Jobs

Seeking an INDUSTRY JOB?
VIEW JOBS

Hiring? In conjunction with our sister brand, Cynopsis, we are offering hiring managers a deep pool of media-savvy, skilled candidates at a range of experience levels and sectors, The result will be an even more robust industry job board, to help both employers and job seekers.

Contact Rob Hudgins, [email protected], for more information.