Scripps Wants Tribune’s Food Network Stake

Scripps the controlling shareholder of the Food Network wants to buy out Tribune’s 31% share of the channel. Scripps already owns the controlling share of the channel but wants the rest. Tribune has been in the news a lot recently concerning major shareholders the Chandlers ex owners of the Los Angeles Times who want Tribune to sell assets to raise the stock price. For Scripps this may have seemed like the best time to get Tribunes share of the Food Network which does very well.

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