KNOXVILLE, Tenn. (AP) ? Travel Channel owner Scripps Networks Interactive Inc. said Thursday that it will buy U.K. company Travel Channel International Ltd. for 65 million pounds ($103 million) to expand overseas.
Travel Channel International produces content about traveling, under the Travel Channel brand, and distributes it to 91 countries in Europe, Asia, the Middle East and Africa.
Scripps, which operates the Travel Channel in the United States, said the addition of the international operations will create a new worldwide brand with combined programming and advertising.
The deal, which is subject to regulatory approval, is expected to be close in the second quarter.
Travel Channel International’s 46?full-time employees in London will join Scripps once the deal closes, the company said.
Knoxville, Tenn.-based Scripps also owns the Food Network and HGTV.
