Wolfe's Travel Channel snapped up by US rival Scripps
The media and internet entrepreneur Richard Wolfe scooped up the best part of a £65m pay day yesterday after his Travel Channel International was bought out by the US media company Scripps International, which broadcasts the US equivalent.
Travel Channel International broadcasts travel programming across Europe, the Middle East, Africa and the Asia-Pacific region. The cable and satellite channel was founded in 1994.
Mr Wolfe, 64, who has appeared on Management Today's top 100 entrepreneurs list, described Scripps as "the natural home" for his channel which employs 46 full-time staff, largely in London.
The acquisition is Scripps' second recent foray into the UK media market. Last year it bought out Virgin Media's 50 per cent stake in UKTV in a £340m deal. The latter's channels include Good Food, Dave, Really, Yesterday, Alibi and Watch.
While the company had considered launching into the UK on its own, it had also been circling Travel Channel International for some time.
- 1 Renee Zellweger on plastic surgery reports: 'I'm living a fulfilling life and I'm thrilled that perhaps it shows'
- 2 Disney announces new female-led film Moana
- 3 Banksy not arrested: Internet duped by fake report claiming artist's identity revealed
- 4 Australian café owner sparks debate after saying 'No' to having unruly children on premises
- 5 Video: Boxer Vido Loncar brutally assaults referee following defeat
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Support for EU membership 'at highest level since 1991 with most Brits wanting to stay in'
iJobs Money & Business
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£18000 - £23000 per annum + Commission: SThree: The SThree group is a world le...
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£20000 - £25000 per annum + OTE £Competitive: SThree: SThree Group and have be...