M&A Deal Summary

Paxson Communications Acquires The Travel Channel

On June 16, 1997, Paxson Communications acquired media company The Travel Channel from Landmark Communications for 75M USD

Acquisition Highlights
  • This is Paxson Communications’ 1st transaction in the Media sector.
  • This is Paxson Communications’ largest (disclosed) transaction.
  • This is Paxson Communications’ 1st transaction in the United States.
  • This is Paxson Communications’ 1st transaction in Maryland.
Investment Fate
  • The Travel Channel was sold to a consortium of strategic buyers in 1997 for 20M USD.
  • The Travel Channel was divested to a consortium of strategic buyers in 2007.
  • The Travel Channel was sold to a consortium of strategic buyers in 2009.
  • The Travel Channel was sold to a strategic buyer in 2016.

M&A Deal Summary
Date 1997-06-16
Target The Travel Channel
Sector Media
Buyer(s) Paxson Communications
Sellers(s) Landmark Communications
Deal Type Divestiture
Deal Value 75M USD

Target

The Travel Channel

Chevy Chase, Maryland, United States
The Travel Channel LLC is a travel media brand, and the network is available in nearly 96 million US cable homes. Its Travel Channel HD™ simulcast is distributed to almost 37 million viewers and is carried on every major provider. Travel Channel is headquartered in Chevy Chase, MD, and maintains offices in New York and Atlanta.

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Buyer(S) 1

Buyer

Paxson Communications

West Palm Beach, Florida, United States
Category Company
Founded 1991
Sector Communications
DESCRIPTION

Paxson Communications Corporation is a network television broadcasting company which owns and operates the largest broadcast television station group in the U.S., as measured by the number of television households in the markets our stations serve.

DEAL STATS #
Overall 1 of 2
Sector (Media) 1 of 2
Type (Divestiture) 1 of 1
State (Maryland) 1 of 2
Country (United States) 1 of 2
Year (1997) 1 of 2
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1997-09-10 The Travel Channel

Chevy Chase, Maryland, United States

The Travel Channel LLC is a travel media brand, and the network is available in nearly 96 million US cable homes. Its Travel Channel HD™ simulcast is distributed to almost 37 million viewers and is carried on every major provider. Travel Channel is headquartered in Chevy Chase, MD, and maintains offices in New York and Atlanta.

Sell $20M

Seller(S) 1

SELLER

Landmark Communications

Alpharetta, Georgia, United States
Category Company
Sector Communications
Employees12,000
DESCRIPTION

Landmark Communications, Inc., is a privately-held media company with interests in newspapers, broadcasting, cable programming, print and online classified marketplaces, broadband services, interactive marketing, Internet video distribution, and other businesses.

DEAL STATS #
Overall 1 of 2
Sector (Media) 1 of 2
Type (Divestiture) 1 of 2
State (Maryland) 1 of 1
Country (United States) 1 of 2
Year (1997) 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 Franchise Solutions

Portsmouth, New Hampshire, United States

Franchise Solutions is an online lead generator to hundreds of franchises worldwide.

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