Speculation about the future of Scripps Networks Interactive is heating up. Bloomberg has a lengthy story today about the likelihood that the Knoxville-based lifestyle media company will be snatched up by a larger media operation.
Walt Disney Co. and Time Warner Inc. are listed as possible suitors.
“Walt Disney Co. (DIS), owner of sports network ESPN, should be drawn to Scripps Networks as a way to add more female-friendly content, said Citigroup Inc. and Macquarie Group Ltd., which also sees Time Warner (TWX) Inc. as a potential acquirer,” Bloomberg reports.
With its stock price rising and earnings soaring, Scripps Networks Interactive Inc. may be a takeover target, according to online reports.
The Knoxville-based company’s stock price pushed to a new 52-week high on Monday, hitting a peak of $61.17. The company’s stock started the year around $43. That kind of gain coupled with second quarter earnings of $142 million, or 93 cents per share, are reasons takeover talk is bubbling this week.
Citigroup analysts say Disney may have its eye on the lifestyle media company and its audience, according to TheStreet, a digital financial media company.
Scripps Networks Interactive Inc. is hoping the good vibes at HGTV and DIY Network will rub off on Travel Channel, the newest addition to its lifestyle media portfolio.
Knoxville-based Scripps Networks announced Wednesday the appointment of two new leaders to oversee strategy and content development at Travel Channel.
Andy Singer was promoted to general manager and Ross Babbit was named senior vice president of programming production. Both executives spent several years in top posts at HGTV and DIY Network, two of Scripps Networks most successful properties.
Looks like Scripps Networks Interactive is ready to make another international push. Earlier this week the Knoxville-based lifestyle media company shuffled the leadership of its international group.
Jim Samples was named president-international. In this post he will have strategic oversight of the company’s “growing international programming portfolio,” SNI said in a news release. Samples previously was president of HGTV, one of SNI’s top brands. He succeeds Greg Moyer.
Also, Bob Baskerville was named chief operating officer-international. Baskerville will oversee all day-to-day operations of SNI’s international businesses. He previously was general manager.
Like a number of very successful companies, Knoxville-based Scripps Networks Interactive Inc. is sitting on a big pile of cash. We’re talking several hundred million dollars.
Having a lot of cash can be comforting in an uncertain economy, but is it really a good idea? It used to be “considered bad form, even indicative of poor management” to have too much cash, Daniel Carver writes in a piece for the website Seeking Alpha.
Carver looks at the cash holdings of five companies — Scripps, Google, Tiffany, Analog Devices and Xilinx. His comments about Scripps Networks are less than enthusiastic.
Scripps Networks Interactive Inc. on Monday answered the question we would all like to struggle with – what to do with a billion dollars burning a hole in your pocket.
Like you, I fantasize give this serious thought all the time.
For the Knoxville-based lifestyle media company the answer was simple – invest some of its profits in a lobbying government affairs office in Washington, D.C. Nothing like access to powerful politicians to protect corporate interests and shield that billion dollars from the taxman.
The company isn’t ready to say what it wants to chat with lawmakers about, but the ever-changing media biz offers plenty of big issues.
Scripps Networks Interactive continues to prove it is one of Knoxville’s best business success stories of recent years.
The Knoxville-based lifestyle media company today reported a first quarter profit of $101 million, or 59 cents per share, up 39 percent from $72.5 million, or 43 cents per share, in the first quarter last year.
Revenues for the quarter eneded March 31 rose 14 percent to $536 million, driven by increased advertising and affiliate fees.
Scripps Networks Interactive Inc. is getting closer to buying Virgin Media’s stake in UKTV, but the deal is at a delicate stage and may not happen, according to published reports in Europe and the U.S.
The Wall Street Journal reports: “A deal with Scripps could be announced in coming weeks, though the talks could still fall apart at the last minute, the people familiar with the matter said.”