Scripps to Buy Shopzilla for $560 Million
Newspaper and broadcast giant E. W. Scripps Co. plans to pay $560 million in cash for Shopzilla, the Internet's No. 2 comparison-shopping service that formerly was known as BizRate.com.Yesterday's announcement comes less than a week after eBay announced its own plans to buy Shopping.com, the Web's top comparison-shopping service, for $620 million.
Both deals are expected to close in the third quarter after gaining shareholder and regulatory approvals.
Like Shopping.com's relationship with eBay, Shopzilla, Los Angeles, will remain a standalone operating unit of Scripps. Shopzilla is privately held.
Scripps owns the Scripps Howard News Service and newspapers like Denver's Rocky Mountain News and the Knoxville [TN] News Sentinel. The company also runs TV brands like the Food Network, DIY Network and Home & Garden.
Mickey Alam Khan covers Internet marketing campaigns and e-commerce, agency news as well as circulation for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters
