Scripps scraps sales possibility, pursues buyback

Scripps Networks Interactive has decided to pursue a $1 billion stock buyback that sharply lessens the likelihood the company will be sold. No doubt, some investors probably were hoping that a strategic recently-completed review by the owner of the Food Network, among other content properties, would lead Scripps toward some type of NBC Universal-like sale and pay-off with a cable TV operator or a larger programming house.

The company had pursued the review after receiving interest in a possible sale from media and private equity firms.

Acquisition speculation, however, has followed Scripps for at least three years since the company was spun off from media firm E.W. Scripps and Co.

For more:
- The Wall Street Journal has this article

Related articles:
Scripps reported jumps in revenue from affiliate fees and advertising
A Scripps official recently urged the industry to be more consumer-centric

Suggested Articles

Comcast NBCUniversal has 11 new media and entertainment startups, including facial recognition and interactive sports tech companies, picked for its second…

Harmonic got a big boost for its CableOS virtual converged cable access platform (CCAP) after Comcast this week signed a licensing deal worth $175 million.

TiVo has entered into a multiyear extension of its agreement with Canadian operator Shaw Communications for TiVo’s i-Guide and its intellectual property…