Scripps Networks Interactive
{{Short description|American media company (2008–2018)}}
{{For|the corporation that replaced Scripps Networks Interactive after the sale|Discovery, Inc.}}
{{More citations needed|date=November 2017}}
{{Use American English|date=February 2023}}
{{Use mdy dates|date=February 2023}}
{{Infobox company
| name = Scripps Networks Interactive, Inc.
| logo = Scripps Networks Interactive.svg
| type = Public
| industry = {{Plainlist|
- Broadcasting
- Digital media
}}
| traded_as = {{NASDAQ was|SNI}}
| fate = Acquired by and merged into Discovery Communications
| predecessor = E. W. Scripps Company
| successor = Discovery, Inc.
| foundation = {{start date and age|2008|7|1}}
| defunct = {{end date and age|2018|3|6}}
| location = Knoxville, Tennessee, United States
| key_people = {{Plainlist|
}}
| revenue = {{increase}} US$ 2.5 billion {{small|(2013)}}{{cite web|url=https://www.forbes.com/companies/scripps-networks-interactive/financial/SNI/|title=Scripps Networks Interactive|work=Forbes}}
| operating_income = {{increase}} US$ 958.5 million {{small|(2013)}}
| net_income = {{decrease}} US$ 683 million {{small|(2013)}} cs
| assets = {{increase}} US$ 4.4 billion {{small|(2013)}}
| equity = {{increase}} US$ 2.1 billion {{small|(2013)}}
| num_employees = 3,600{{Cite web|url=http://fortune.com/fortune500/scripps-networks-interactive/|title=Scripps Networks Interactive|website=Fortune|access-date=February 9, 2019}}
| num_employees_year = 2017
| divisions =
| subsid =
| parent =
| homepage =
}}
Scripps Networks Interactive, Inc. (SNI) was an American mass media company, which was formed on July 1, 2008, and acquired by and merged into Discovery Communications on March 6, 2018. It was formed in 2008, through the spin-off of the E. W. Scripps Company's cable television networks and online assets. Discovery Communications completed its acquisition of SNI after receiving approval from the United States Department of Justice and European Commission on March 6, 2018. It was the owner of several major factual television cable channels, including Food Network, HGTV and Travel Channel, and operated or held stakes in localized international versions of these brands. SNI also owned Polish broadcaster TVN and half of the British channel group UKTV.
SNI was headquartered in Knoxville, Tennessee. The company had additional office locations in New York City; Los Angeles; Chicago; San Francisco; Chevy Chase, Maryland; Atlanta; Detroit; Nashville; Cincinnati; and offices in São Paulo (Brazil), London (UK) and Singapore.
History
In 1994, Scripps acquired the Knoxville-based Cinetel Productions to serve as a production base for a new home lifestyle-oriented cable network, which would eventually launch in December as HGTV. Scripps later acquired a stake in the Food Network, and launched a spin-off of HGTV known as DIY Network (now Magnolia Network).{{cite web|url=http://www.investors.com/news/management/leaders-and-success/susan-packard-drove-home-hgtvs-culture-while-ratings-sprouted/|title=Susan Packard Drove Home HGTV's Culture While Ratings Sprouted|date=March 24, 2016|work=Investors.com|access-date=October 26, 2016}}{{cite web|url=http://www.bizjournals.com/albuquerque/bizwomen/news/latest-news/2016/03/louisville-why-working-women-need-to-think-like.html|title=Susan Packard of HGTV and Scripps Networks Interactive shares advice at Business Women First event|work=Albuquerque Business First|access-date=October 26, 2016}}{{cite news|last1=Lail|first1=Jack D.|title=Scripps family considers offers for Knoxville-based Scripps Networks Interactive|url=http://www.knoxnews.com/story/money/business/2017/07/26/scripps-family-considers-offers-knoxville-based-scripps-networks-interactive/511637001/|access-date=August 3, 2017|work=Knoxville News Sentinel|date=July 26, 2017}}
On July 1, 2008, Scripps spun out its cable networks and online properties as a new, publicly traded company known as Scripps Networks Interactive. The split was performed to reduce the financial burden of Scripps' broadcast television and print assets on its profitable cable network properties.{{Cite web|url=https://www.bizjournals.com/cincinnati/stories/2008/06/30/daily14.html|title=Scripps spins off interactive company|website=Cincinnati Business Courier|access-date=November 22, 2017}}{{Cite web|url=https://gigaom.com/2007/10/16/419-draft-ew-scripps-to-split-in-two-scripps-network-interactive-to-be-spun/|archive-url=https://web.archive.org/web/20150310142914/https://gigaom.com/2007/10/16/419-draft-ew-scripps-to-split-in-two-scripps-network-interactive-to-be-spun/|url-status=dead|archive-date=March 10, 2015|title=E.W. Scripps to Split in Two; Scripps Networks Interactive to be Spun Off to Shareholders|last=Staff|first=Edit|date=October 16, 2007|website=Gigaom|language=en-US|access-date=November 22, 2017}}
The company acquired a majority interest in the Travel Channel from Cox Communications for a reported $975 million in late 2009,{{cite news|last1=Yarow|first1=Jay|title=Scripps Picks Up The Travel Channel In $975 Million Deal|url=http://www.businessinsider.com/scripps-picks-up-the-travel-channel-in-975-million-deal-2009-11|access-date=August 3, 2017|work=Business Insider|date=November 5, 2009|language=en}} and the following year rebranded Fine Living Network as Cooking Channel.
In April 2011, the company announced the sale of Shopzilla to Symphony Technology Group for $165 million. From within its Travel Channel unit, Scripps also invested in Oyster.com, a hotel research and booking site.{{cite news|title=Travel Channel Invests in Oyster.com|url=http://intransit.blogs.nytimes.com/2011/04/25/travel-channel-invests-in-oyster-com/|work=The New York Times | date=April 25, 2011}}
In 2011, Virgin Media agreed to sell its 50% stake in UKTV to Scripps Networks Interactive for $495 million (£339 million).{{cite news|last1=Szalai|first1=Georg|title=UKTV: Future of Scripps, BBC Joint Venture in Focus|url=https://www.hollywoodreporter.com/news/uktv-future-scripps-bbc-venture-888729|access-date=August 3, 2017|work=The Hollywood Reporter|date=April 29, 2016|language=en}} Completion of the transaction was contingent on regulatory approvals in Ireland and Jersey, which was received on October 3, 2011.{{cite web|url=http://www.marketwatch.com/story/scripps-networks-interactive-and-virgin-media-complete-uktv-transaction-2011-10-03|title=Scripps Networks Interactive and Virgin Media Complete UKTV Transaction|publisher=MarketWatch|date=October 3, 2011}}
On March 22, 2012, Scripps Networks Interactive announced that it had agreed to pay £65m (US$102.7m) to acquire Travel Channel International Limited (TCI), the UK-based broadcaster that ran travel-themed television channels under the Travel Channel brand across the Europe, Middle East, Africa and Asia Pacific markets, but had no connection with the American television channel of the same name until that time.{{cite web|url=http://www.c21media.net/archives/78877|title=Scripps buys Travel Channel Int'l|publisher=C21Media|date=March 22, 2012}} The deal was completed on May 1, 2012, following regulatory approval.{{cite web|url=http://markets.on.nytimes.com/research/stocks/news/press_release.asp?docTag=201205010842BIZWIRE_USPRX____BW6146&feedID=600&press_symbol=11876131|title=Scripps Networks Interactive completes Travel Channel International acquisition|work=New York Times|date=May 1, 2012}} The channels ran by TCI were rebranded after the American channel since then.
In May 2013, Scripps Networks Interactive announced that it would open a Brazilian headquarters, in São Paulo,{{cite web|last=Kimenez|first=Keila|title=Chega ao Brasil nova programadora de TV paga|url=http://www1.folha.uol.com.br/fsp/ilustrada/99781-chega-ao-brasil-nova-programadora-de-tv-paga.shtml|work=Folha de S. Paulo|publisher=Folha.com|access-date=March 27, 2013}} and had appointed the former vice-president of strategy of Fox as managing director,{{cite web|title=Scripps Networks contrata Márcio Fonseca como "managing director"|url=http://www.telaviva.com.br/25/03/2013/scripps-networks-contrata-marcio-fonseca-como-managing-director-/pt/333919/news.aspx|work=Tela Viva|access-date=March 27, 2013}} broadcasting its channels to the entire Latin America region.
On June 5, 2013, the company launched ulive, a digital-only lifestyle video brand that combined video content from the company's media brands with third-party videos and original series. Later rebranded as Lifestyle Studios, his video portal and distribution network expanded on the company's food, home and travel verticals, adding coverage for topics including parenting and wellness.{{cite web|url=http://www.mediapost.com/publications/article/210543/scripps-networks-interactive-debuts-ulive-video-si.html/|title=Scripps Networks Interactive Debuts ulive Video Site|date=October 13, 2013}}
By way of its acquisition of Polish company N-Vision, Scripps Networks Interactive gained a 52.7% controlling interest in Polish broadcaster TVN in March 2015 for $615.3 million (€584 million) from ITI Group and French media giant Vivendi.{{cite news|title=Scripps buys majority stake in TVN|url=http://www.c21media.net/scripps-buys-majority-stake-in-tvn/|access-date=August 3, 2017|work=C21media|date=March 16, 2015}}{{Cite web|title = Scripps Networks Interactive sfinalizował przejęcie TVN|url = http://www.tvn24.pl/wiadomosci-z-kraju,3/scripps-networks-interactive-sfinalizowal-przejecie-tvn,556529.html|access-date = July 3, 2015}} The company bought out TVN's remaining owners, ITI Group and Canal+ Group in July 2015.{{cite news|last1=Dickens|first1=Andrew|title=Scripps completes TVN purchase|url=http://www.c21media.net/scripps-completes-tvn-purchase/|access-date=August 3, 2017|work=C21media|date=July 2, 2015}}
On May 3, 2017, Scripps acquired millennial-targeted food website Spoon University.{{cite news|url=https://www.reuters.com/article/us-spoonuniversity-m-a-scrippsnetworks-idUSKBN17Z1II|title=Scripps Networks to buy Spoon University in online push|website=Reuters|date=May 3, 2017 }}
= Acquisition by Discovery =
On July 31, 2017, Discovery Communications announced that it would acquire Scripps Networks Interactive for $14.6 billion in a cash and stock deal.{{cite web|url=https://www.hollywoodreporter.com/news/discovery-acquire-scripps-networks-146-billion-1022433|title=Discovery to Acquire Scripps Networks for $14.6 Billion|last=Szalai|first=Georg|work=The Hollywood Reporter|date=July 31, 2017|access-date=July 31, 2017}} Discovery will establish an operational hub in Knoxville, but the company also announced plans to relocate its worldwide headquarters from Silver Spring, Maryland to New York City in 2019.{{cite web|url=https://variety.com/2018/tv/news/discovery-communications-headquarters-new-york-city-1202658421/|title=Discovery Communications to Shift Headquarters to New York City|last=Steinberg|first=Brian|date=January 9, 2018|work=Variety|access-date=January 9, 2018}}
On February 6, 2018, the European Commission approved the deal. Since Liberty Global, which operates pay television services in Poland under the UPC Polska brand, is a major shareholder in Discovery Communications, the EU required that Discovery ensure the continued availability of TVN24 and TVN24 BiS to third-party television providers.{{Cite web|url=http://ec.europa.eu/competition/mergers/cases/decisions/m8665_760_3.pdf|title=Case M.8665 – Discovery / Scripps|date=February 6, 2018|publisher=European Commission|access-date=March 6, 2018|archive-url=https://web.archive.org/web/20180307214214/http://ec.europa.eu/competition/mergers/cases/decisions/m8665_760_3.pdf|archive-date=March 7, 2018|url-status=live}}{{Cite news|url=https://www.hollywoodreporter.com/news/european-commission-clears-discovery-deal-buy-scripps-1082184|title=European Commission Clears Discovery Deal to Buy Scripps|work=The Hollywood Reporter|access-date=March 7, 2018|language=en}}
The purchase was approved by the U.S. Department of Justice on February 27, 2018,{{Cite web|url=https://www.hollywoodreporter.com/amp/news/discovery-fourth-quarter-earnings-exceed-estimates-1088306|title=Discovery Gets Justice Department Clearance to Buy Scripps|website=The Hollywood Reporter|date=February 27, 2018 |language=en|access-date=March 7, 2018}} and was completed on March 6, 2018; at that time, the company also changed its name to Discovery, Inc.{{cite web|url=https://www.hollywoodreporter.com/news/discovery-closes-scripps-acquisition-creating-nonscripted-content-giant-1072832|title=Discovery Closes Scripps Acquisition, Creating Non-scripted Content Giant|last=Szalai|first=Georg|work=The Hollywood Reporter|date=March 6, 2018|access-date=March 6, 2018}} SNI's chief programmer Kathleen Finch was retained as Discovery's Chief Lifestyle Brands Officer, overseeing the former SNI channels, as well as Discovery lifestyle networks such as TLC.{{cite web|url=https://deadline.com/2018/03/discovery-scripps-executive-shakeup-rich-ross-out-kathleen-finch-1202307333/|title=Rich Ross Out At Discovery In Exec Shakeup; Scripps' Kathleen Finch Adds To Oversight|last=Hipes|first=Patrick|date=March 1, 2018|work=Deadline Hollywood|access-date=March 2, 2018}} In turn, Discovery, Inc. merged with WarnerMedia in April 2022 to form Warner Bros. Discovery; Finch was subsequently promoted to head of U.S. Networks, overseeing all non-premium cable networks run by Warner Bros. Discovery (besides Magnolia Network, which reports to HBO head Casey Bloys).{{cite web |last=Maas |first=Jennifer |date=April 8, 2022 |title=Discovery Closes Acquisition of AT&T's WarnerMedia |url=https://variety.com/2022/tv/news/discovery-warnermedia-merger-close-warner-bros-discovery-1235200983/ |access-date=April 8, 2022 |website=Variety |publisher=Penske Media Corporation}}{{Cite web |last=Maas |first=Jennifer |date=April 8, 2022 |title=What Warner Bros. Discovery Looks Like on Day 1 |url=https://variety.com/2022/tv/news/warner-bros-discovery-brands-channels-properties-1235211353/ |access-date=April 9, 2022 |website=Variety}}{{Cite web |last=Hayes |first=Dade |date=April 9, 2022 |title=Warner Bros Discovery Merger: Who's In, Who's Out In The Executive Ranks |url=https://deadline.com/2022/04/warner-bros-discovery-executives-list-org-chart-merger-1234997658/ |access-date=April 9, 2022 |website=Deadline}}
Assets
= United States =
- Cooking Channel (70% with Nexstar Media)
- DIY Network
- Food Network (70% with Nexstar Media)
- Great American Country
- HGTV
- Travel Channel
= International =
References
{{Reflist|30em}}
{{Warner Bros. Discovery}}
{{EWS CORP}}
{{authority control}}
Category:Mass media companies established in 2008
Category:Mass media companies disestablished in 2018
Category:Companies based in Knoxville, Tennessee
Category:Former E. W. Scripps Company subsidiaries
Category:Defunct mass media companies of the United States
Category:Companies formerly listed on the New York Stock Exchange
Category:Companies formerly listed on the Nasdaq