History and Ownership
The Food Network (legally the Television Food Network, GP) was launched on Thanksgiving weekend 1993 in New York, NY as a channel that specialized in programs about cooking, hospitality, food, restaurants, and general kitchen culture. In 1996, it was purchased by the A.H. Belo Corporatio,
In 1997, the E.W. Scripps Company purchased a majority share, and has since bought out every minority shareholder except for Tribune Co., which maintains a 31% share of the estimated $1 billion channel.[1][2] Scripps Networks Interactive, a an offshoot of E.W. Scripps Co., now has control of the channel along with HGTV and several other home-centered networks, and broadcasts to 99 million television household worldwide. This number is expected to rise, however, since Food Network has expanded to both the United Kingdom and Asia within the past year.[3]
“Viewers love our talent and our shows, which is why Food Network and HGTV rank among the top networks in cable,” said Kenneth W. Lowe, chairman, president and chief executive officer of Scripps Networks Interactive. “But our valuable networks simply are not being compensated like top ten networks by Cablevision. The distribution rates Cablevision pays for Food and HGTV are among the lowest in the industry.” (http://www.scrippsnetworks.com/newsitem.aspx?id=391)
Now Food Network is not only TV channel, but also a full-blown infrastructure for gourmets, housewives and everybody, who loves good food. It includes unique lifestyle network, website and magazine, where viewers can buy everything for cooking – from salt to “Candy Apple Artisan Design Stand Mixer” (http://www.foodnetworkstore.com/p-302895-4294900080-KitchenAid-5-qt-Stand-Mixer-Bonus- Attachment_KitchenAid-Candy-Apple-Artisan-Design-Stand-Mixer.aspx)
- ↑ Monk, Dan. Business Courier of Cincinnati. "Tribune's Food Network stake has Scripps' belly growling" April 4, 2008. http://cincinnati.bizjournals.com/cincinnati/stories/2008/04/07/tidbits1.html
- ↑ Owl Staff. Owl Beta. "A History of the Food Network" December 7, 2009. http://www.owl.com/article/2009/12/07/a-history-of-the-food-network
- ↑ Schroeder, Eric. Food Business News. "Food Network to launch in international markets" November 4, 2009. http://www.foodbusinessnews.net (Registration required to view entire article.)