Scripps Networks Interactive and Tribune Media Co. Friday said they signed a multi-year extension of their partnership in Food Network.
Scripps Networks owns an 80% stake in Food Network and has expressed an interest in acquiring the remaining stake from Tribune at the right price.
Financial details of the extended partnership were not disclosed. The old deal ran through December. The new deal concluded in 2020.
“Food Network is the strongest food media brand across the globe and continues to grow its footprint around the world,” said Ken Lowe, CEO of Scripps Networks Interactive. “We are very happy to be able to continue our long relationship with Tribune Media to grow this business for the long-term.”
“We’re extremely pleased to be extending our partnership with Scripps Networks Interactive for Food Network, which has become the gold standard for cable networks of all kinds,” said Peter Liguori, Tribune Media’s president and CEO. “We look forward to continued success in the years ahead.”
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