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Scripps Networks to expand to India: Company announces $55M investment in NDTV lifestyle unit

Posted on: Fri, 20 Nov 2009 11:53:00 EST

Symbols: SNI

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Nov 20, 2009 (The Knoxville News-Sentinel - McClatchy-Tribune Information Services via COMTEX) --
SNI | Quote | Chart | News | PowerRating -- For the second time this month Scripps Networks Interactive Inc. has announced a major expansion of its cable TV operations.

On Thursday, the company said it is entering the India market with a $55 million investment in NDTV Group's lifestyle unit.

The company will acquire a 69 percent interest in the India broadcaster's subsidiary, NDTV Lifestyle. The deal is expected to close by the end of the first quarter 2010.

Scripps' production operations are based in Knoxville and its corporate headquarters are in Cincinnati.

"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," Greg Moyer, president of Scripps Networks International, said in a statement.

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.

Also this month, Scripps announced it would invest $181 million to purchase a controlling stake in the Travel Channel, home to popular shows such as Anthony Bourdain's "No Reservations," where the sharp-witted author and chef trots the globe in search of tasty local cuisine and color. That deal is expected to close by January.

Other cable networks operated by Scripps include HGTV, 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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