Scripps Buys Newspapers, TV Network
CINCINNATI (AP) _ The E.W. Scripps Co. said Wednesday it completed $700 million in deals to buy six newspapers from Harte-Hanks Communications and the Food Network, a cable television network.
Scripps said it acquired six newspapers _ five in Texas and one in South Carolina _ plus stations KENS-TV and KENS-AM in San Antonio, Texas, from Harte-Hanks Communications.
Then, Scripps traded the KENS stations to A.H. Belo Corp. in exchange for Belo’s 56 percent controlling interest in the Food Network and $75 million in cash.
Transfer of the KENS broadcast licenses to Belo is subject to government approval.
The deal includes these Harte-Hanks daily newspapers in Texas: the Corpus Christi Caller-Times, Abilene Reporter-News, Wichita Falls Times Record News, San Angelo Standard-Times and Plano Star-Courier, and the Anderson Independent-Mail in South Carolina.
The Food Network, based in New York, began operating in 1993. It now reaches more than 25 million homes across the country through cable television systems and direct broadcast satellite. Its programming focuses on cooking and food preparation, nutrition and at-home entertaining and restaurants.
With these transactions, Scripps operates nine network-affiliated television stations; newspapers in 20 markets; two cable TV networks, Home & Garden Television and the Food Network; United Media, which licenses and syndicates news features and comics; Cinetel Productions, which produces programming for cable TV, and Scripps Howard Productions, which makes programming for broadcast TV networks.