Scripps acquires Travel Channel International

Scripps Networks Interactive Inc., the company behind popular lifestyle brands HGTV, Food Network, Travel Channel, DIY Network, and Cooking Channel, has reached an agreement to acquire Travel Channel International Limited (TCI).

SCRIPPS already owns the US Travel channel, but this latest acquisition is for the independent international arm headquartered in the United Kingdom that distributes the Travel Channel brand in 20 languages across Europe, Africa, Middle East and Asia Pacific regions.

Scripps Networks Interactive will pay £65 million to acquire TCI. The transaction is expected to be completed in the second quarter of 2012 pending regulatory approval.

Formed in 2004, TCI has affiliate agreements with approximately 850 distributors. The company’s 46 full-time employees in London will join Scripps Networks Interactive at the completion of the transaction.