Scripps Sells Shop at Home TV Network and Online Site, For $17 Million

E.W. Scripps, which was having a hard time trying to figure out what to do with its Shop at Home network and website, has sold certain assets of it to Jewelry Television for $17 million. JT will continue operating Shop At Home part time under a new company called Shop At Home Network LLC.
The deal includes Shop At Home’s building and real estate, satellite uplink facilities, information technology systems, the network’s call center, website and production studios. Scripps has already announced that it would end broadcasting in late June because of lagging performance.
E.W. Scripps Co. bought a majority interest in Shop At Home in 2002 for $49.5 million, then two years later acquired the rest of the company and the five affiliated stations. The total value was about $285 million.
More details in this release.

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