KNOXVILLE, Tenn.--(BUSINESS WIRE)--Scripps Networks Interactive Inc. (NYSE:SNI) today completed the sale of Shopzilla Inc. to Symphony Technology Group.
Symphony, a strategic private equity company, acquired all of the outstanding shares of Shopzilla for $165 million, comprised of $150 million in cash paid immediately upon closing of the transaction and $15 million in deferred payments.
Scripps Networks Interactive will report Shopzilla as a discontinued operation for the second quarter 2011 and for all prior periods represented in its financial statements.
About Scripps Networks Interactive
Scripps Networks Interactive is one of the leading developers of lifestyle-oriented content for television and the Internet, where on-air programming is complemented with online video, social media areas and e-commerce components on companion websites and broadband vertical channels. The company’s media portfolio includes popular lifestyle television and Internet brands HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and country music network Great American Country.