Bidding over $1 billion for Travel Channel
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Is the auction about over? The Wall Street Journal, Financial Times and Los Angeles Times all report that Scripps Networks Interactive has bid $1.1 billion for Travel Channel, topping a $1 billion flat bid from News Corporation.
No one is talking on the record, but the reports cite sources close to the bidding as saying that News Corp. is balking at going any higher and may walk away from the auction.
The price tag for the cable network is considerably higher than expectation of $600 million-plus back when the auction began. The would-be seller is Cox Enterprises.
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