Travel Channel may be on the move
Cox Communications conferring with Goldman SachsCox Communications said Wednesday that certain parties might be interested in purchasing Travel Channel, an asset the cabler acquired two years ago from Discovery Communications.
Cox has hired Goldman Sachs to help it sort out a number of possible strategies with Travel, though the company's carefully worded statement didn't mention the prospect of a sale. Published reports, however, suggest that an auction could begin as early as this week and that Travel Channel could fetch as much as $1 billion.
"We have received unsolicited inquiries regarding Travel Channel Media," Cox said. "Our advisers will help us to better understand our options."
In the past several decades, the Travel Channel has been owned by Westinghouse, TWA, Landmark Communications, Paxson Communications and Discovery. Cox acquired it in 2007 as part of a multibillion-dollar deal that included surrendering its 25% stake in Discovery.