News Corp. Looking To Spend $800 Million For Travel Channel
- Sunday, October 25, 2009, 2:42
- Sci-Tech
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News Corp. (NWS) is bidding $800 million to buy a 65% stake in the Travel Channel from Cox Communications, the FT reports.
News Corp. is coming late, but large, to the process. Bidding started in July, and Scripps was the expected winner with a bid in the $600-$700 million range. The bidding closes in a few weeks.
It would make its bid through the National Geographic Channel.
Looks like Rupert Murdoch is feeling much better about the economy and the ad market. – Silicon Alley Insider
