[Techtaffy Newsdesk]
Scripps Networks Interactive have reached an agreement to acquire Travel Channel International (TCI), an independent company headquartered in the United Kingdom that distributes the Travel Channel brand in 20 languages across Europe, Africa, Middle East and Asia Pacific regions. The company produces and commissions original travel programming for distribution in 91 countries.
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.