The first round of bids for Cox Communications Inc.’s Travel Channel were due last week, and the bidders are NBC Universal, Scripps Networks Interactive Inc. and News Corp., according to a Bloomberg report, quoting sources.
Time Warner may join the bidding "later in the process," Bloomberg reports.
Value of the channel is about $600 million to $700 million, the report says. That’s lower than the price some other cable channels have fetched in recent years, but, among other developments, the economy has changed.
–Elizabeth Jensen
More turmoil for the Reckas’
Why would News Corp want The Travel Channel? I mean, wouldn’t that cannibalize some of the market covered by their National Geographic venture? And NBC Universal? Unless it’s because they want to put it in the same portfolio as another former Landmark Communications outlet The Weather Channel, what’s the point? Though, to be honest, they could have the regular Travel Channel shows and NBC News could produce documentaries and travel programming for the network.
Scripps, I understand. The Travel Channel has chosen to embrace their “foodie” side as of late, and Scripps could add some of their travel-based food shows like $40 A Day, Road Tasted, Diners, Drive-Ins, and Dives, and Extreme Cuisine alongside shows like Man V. Food, Food Paradise, Bizarre Foods, and No Reservations (though Anthony Bourdain would probably hate that idea). On the flipside, it could cannibalize the hybrid outlet that is Fine Living.
Time Warner . . . they need to learn how to run the channels they have before they buy and ruin another one. They already turned Court TV into truTV, which is a pseudo-reality network, and they’re turning Cartoon Network into a third-rate Nickelodeon clone, embracing low-rated programming and abandoning the viewers that supported them and the creators that worked on their cartoons.
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