• Bloomberg, Monday, November 2, 2009 10:38 PM

News Corp. may drop out of bidding for the Travel Channel because it isn't willing to pay the $1.1 billion being sought by owner Cox Communications. Scripps Networks Interactive is the other front runner seeking to acquire the cable channel.

Offers for the channel have climbed since Cox kicked off a bidding competition by announcing in June that it had received unsolicited inquiries for the network. At the time, Hale Holden, a Barclays Capital Inc. credit analyst in New York, estimated Travel Channel Media was worth $600 million to $700 million. The channel is distributed in 94 million U.S. homes.

Read the whole story at Bloomberg »