Singapore's Asian Food Channel sold to US network
Acquisition boosts Scripps' regional presence, 'allows AFC brand to grow'
Published on Apr 17, 2013 8:58 AM
SINGAPORE-BASED Asian Food Channel (AFC) has been gobbled up by American TV network Scripps Networks Interactive.
The acquisition, for an undisclosed price, was announced by New York Stock Exchange-listed Scripps on Monday in the United States. A number of other suitors had been interested in AFC.
AFC chief executive Maria Brown said the eight-year-old start-up saw Scripps, with its popular food offerings such as Food Network and Travel Channel, as a good fit with AFC.
Many global media companies, she said, loved AFC's dominance of the Asian food TV space and valued the brand. But it was with Scripps that AFC felt most comfortable that the brand would grow long after the deal was done.
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