Trust seeks ruling on Scripps Networks stock sale

Bloomberg reported recently on a court ruling sought by the trust that controls Knoxville-
scripps2_asb_13138.jpgbased Scripps Networks Interactive Inc.

“The petition filed in a Butler County, Ohio, probate court may be viewed by traders as the removal of an obstacle to a potential acquisition of Scripps Networks, said Michael Nathanson, an analyst with Nomura Securities in New York,” Bloomberg reported.

Among other things, the Bloomberg story says the Scripps Networks, owner of Food Network, the Travel Channel and other cable TV networks, could have more than a billion dollars in cash on hand by the end of this year.

Take a look.

Scripps Networks Gains Most in 2 Years After Trust Petition

(Full disclosure: I own a few shares of SNI, emphasis on few.)

Photo: Scripps Networks Interactive headquarters/ Knoxville News Sentinel archive