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Scripps Networks expands to India

Posted on: Thu, 19 Nov 2009 17:12:00 EST

Symbols: SNI

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KNOXVILLE, Nov 19, 2009 (The Knoxville News Sentinel - McClatchy-Tribune Information Services via COMTEX) --
SNI | Quote | Chart | News | PowerRating -- Scripps Networks Interactive Inc. said Thursday it is expanding to the India market with a $55 million investment in NDTV Group's lifestyle unit.

The Cincinnati-based company will acquire a 69 percent interest in the NDTV subsidiary, NDTV Lifestyle. The deal is expected to close by the end of the first quarter of 2010.

Scripps Networks production operations are based in Knoxville.

"We know our lifestyle brands play well around the globe, and NDTV Good Times channel and NDTV Lifestyle serve as sturdy platforms for us to build lifestyle television programming businesses in one of the world's most promising media marketplaces," said Greg Moyer, president of Scripps Networks International.

International expansion is a primary objective of Scripps Networks, the company said in a press release. Earlier this year, the company formed partnerships to distribute Scripps-owned Food Network in Europe, the Middle East, Africa and Asia.

In addition to Food Network, other cable networks operated by Scripps include DIY Network, Great American Country and Fine Living Network (FLN). The company announced in October that it is rebranding FLN to the new Cooking Channel. The rebranding is expected to be completed sometime during the third quarter of 2010.

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