Scripps Networks Interactive, Inc. (NYSE:SNI) is a favorite among merger and buyouts speculators. The company got listed in 2008 and due to its relatively smaller size, when compared to other media companies, it is considered by many as an ideal takeover target. Scripps Networks Interactive, Inc. (NYSE:SNI) runs some of the most well known lifestyle media brands, which includes Food Network, Cooking Channel and Travel Channel, among others. Ken Lowe, CEO of Scripps Networks Interactive, Inc. (NYSE:SNI) was recently on CNBC, where he discussed about consolidation in media industry and whether his company would be open for a takeover.
“Consolidation is really not new to our industry; it has been going on for a long time. We have always dealt with distribution partners. I think, going forward, when people tend to think about heft and quantity as far as dealing in a consolidated world. We are more focused on the quality of our brands, the quality of the audience we deliver and ultimately having must have brands that our distribution partners will continue to want to carry […],” Lowe said.
Lowe also added to that list, the ancillary benefits that Scripps Networks Interactive, Inc. (NYSE:SNI) offers like local advertising sales and the partnerships it has had with other major media companies. He feels that if takeover talks ever happen, Scripps Networks Interactive, Inc. (NYSE:SNI) will be able to negotiate fairly. He dismissed the rumors that Scripps Networks Interactive, Inc. (NYSE:SNI) is in talks with companies to sell itself, but mentioned that since the company owns its content and its ratings are better than ever, it will be able to find a suitable buyer if it chooses to do so. According to him, Scripps Networks Interactive, Inc. (NYSE:SNI)’s corecategoriesof home, food and travel have never been more popular with consumers.
As of June 30, 2014, Mason Hawkins‘ Southeastern Asset Management owns over 2.7 million shares in Scripps Networks Interactive, Inc. (NYSE:SNI).
Disclosure: None
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