Wednesday, July 2
Rachael Ray rang the opening bell at the New York Stock Exchange yesterday in celebration of debut of Scripps Networks Interactive (SNI), the newly formed company consisting of cable networks HGTV, Food Network, DIY Network, Fine Living Network and Great American Country Network, and the shopping services Shopzilla and uSwitch.
SNI was formed after shareholders agreed to split the original company, E. W. Scripps, into two separate publicly traded companies.
Now, E. W. Scripps just owns "10 broadcast stations, newspapers in 15 U.S. markets and other media properties."
Smart of SNI to ditch the newspapers and focus on those money-making cable properties. We're gonna be rich!
(Well, Rachael might just get richer from the deal.) [CNN]