03/18/2010 05:12 am ET | Updated May 25, 2011

Scripps Buys Travel Channel In $975 Million Deal

It's official: Scripps Networks Interactive (SNI) has won the Travel Channel auction. In a deal that values the channel at $975 million, Scripps will will acquire a majority interest in the property while current owner Cox retains a 35 percent stake. News Corp. (NWS), among others, had been bidding for the channel.

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