Scripps Networks Interactive's (NYSE: SNI) history dates back to 1878 when Edward W. Scripps founded "The Penny Press" in Cleveland. The E. W. Scripps Company (Scripps) solidified its position as one of the most successful newspaper publishers of the post-war era, and built its reputation as a leading operator of local television stations.
In the early 1980s, in an effort to develop a source of revenue that wasn't dependent upon advertising, Scripps began buying and building cable television systems, eventually becoming one of America's largest cable operators. The cable TV systems were later sold to Comcast.
In the 1990s, to take advantage of the changes in technology and new media opportunities, Scripps began to direct its free cash flow to investments in information and entertainment content. In 1994 Scripps purchased Cinetel Productions, a Knoxville-based creator of programming for cable, and announced plans to launch HGTV.
Building on the success of HGTV, Scripps acquired or launched additional lifestyle television networks. Food Network (1997) was brought into the fold and, like HGTV, is now in more than 99 million U.S. television households. The company started the DIY Network (1999) and Fine Living (2002), and acquired GAC (2004) and Travel Channel (2009) to round out a six-network portfolio: Scripps Networks. Scripps Networks continues to launch niche broadband channels that extend the core brands' presence on the Internet with advertiser-supported, on-demand content. Our lifestyle networks are complemented by award-winning companion Web sites created and supported by SN Digital.
In 2005 Scripps acquired Shopzilla (BizRate), an online comparison shopping service that creates a market of tens of millions of products offered by more than 100,000 merchants. This business helped propel Scripps to a top-15 ranking on the list of the world's largest companies on the Web (based on unique visitors).
From newspapers to broadcast television, cable programming and the Internet, The E.W. Scripps Company evolved into one of America's most forward-thinking media companies and, along the way, created significant long-term value for its shareholders.
In October 2007, the board of directors of The E.W. Scripps Company authorized a separation into two publicly traded companies; one focused on the growing national television lifestyle brands and global Internet services, and the other on relevant, innovative and enduring local media businesses. The transaction was completed on June 30, 2008.
The E. W. Scripps Company focuses on local print, television and Internet businesses. Today that includes daily newspapers, broadcast television stations, their local Web brands, and United Media, its subsidiary that licenses and syndicates comic strips and other creative properties.
Scripps Networks Interactive Inc. includes our popular national television networks, their associated interactive businesses and our consumer-oriented online comparison shopping services. It is anchored by some of America's most popular and recognizable television and Internet brands, including HGTV, DIY Network, Food Network, Fine Living Network (re-launching as Cooking Channel 3rd quarter 2010), Great American Country, RecipeZaar, Shopzilla, BizRate, BESO and, in the United Kingdom, UpMyStreet.
