uSwitch.com Switches to Scripps for $366M
Looking to expand its online shopping business, E.W. Scripps Co. said it acquired United Kingdom-based uSwitch.com (www.uswitch.com (opens in new tab)) for $366 million in cash.
The deal follows Scripps’ acquisition in June of Los Angeles-based Shopzilla.
Scripps senior vice president of interactive media Tim Peterman described uSwitch and Shopzilla as the foundation of its new interactive division. Peterman will run the business.
uSwitch originally started as a service that helped consumers to switch energy providers in the United Kingdom’s deregulated energy market, but the company said nearly one-half of its future revenue growth will come from other categories, such as its UpMyStreet.com (www.upmystreet.com) local-information Web site.
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