Discovery Communications purchased a 70% interest in the Travel Channel from Paxson Communications Corp. for $20 million. Earlier this year Paxson paid $75 million to Landmark Communications to purchase the struggling network. The Travel Channel is seen in about 20 million homes; approximately 5 million of those receive the network part time. The deal is a coup for Discovery; the company originally tried to snare Travel about 18 months ago. It is expected that Discovery will take over ad sales for Travel. Travel's carriage deals with cable operators are said to be tenuous. Discovery, which includes among its owners the giant cable operators Tele-Communications Inc. and Cox Communications, should be able to boost Travel's carriage significantly.
Copyright September 1997, Crain Communications Inc.