Discovery Communications Confirms It May Run—Not Buy—Travel Channel Again; Scripps Also Looking at Channel

Sep 17, 2009  •  Post A Comment

Discovery Communications sold off Travel Channel, but it soon may be at least running its advertising and sales again, Discovery CEO David Zaslav said at the Goldman Sachs Communacopia conference, B&C reports.

Bloomberg reported this week that private equity firms KKR, THL Partners and Providence Equity Partners are considering a bid for Travel Channel, and are in talks with Discovery about a partnership.

Owner Cox Communications is hoping to get about $800 million for the Travel Channel.

Zaslav said: “We won’t be bidding on the channel. We sold it as a tax-efficient deal — we wouldn’t be the best buyer. If somebody bought it, we could represent it. We represent BBC America and we could represent Travel Channel.”

Meanwhile, Multichannel News reported that Scripps Networks Interactive chief financial officer Joe NeCastro told the conference that his company also is looking at Travel Channel. But he said the company also is interested in acquiring the 31% stake in the Food Network that it doesn’t own. That stake is held by Tribune Co.

–Elizabeth Jensen


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