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Cox to sell Travel Channel -sources
NEW YORK, July 15 |
NEW YORK, July 15 (Reuters) - Cox Communications has decided to sell its Travel Channel, valued at about $600 million to $1 billion, in an auction expected to start in a few days, two sources familiar with the matter said.
Scripps Networks Interactive (SNI.N) and Time Warner Inc (TWX.N) have expressed interest in looking at the sales prospectus, which will be sent out to possible buyers within the next week, both sources said. Goldman Sachs Group (GS.N) is handling the sale.
The people requested anonymity because they were not authorized to speak about the upcoming auction publicly.
Cox declined comment. The company said in June it was considering strategic options for the Travel Channel, including "maintaining the current business structure to joint ventures and other potential structures," but added that it had made no decision.
Scripps Networks, Time Warner and Goldman Sachs declined comment.
(Reporting by Jui Chakravorty Das and Paul Thomasch; Editing by Phil Berlowitz)
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