Analysts positive on Scripps’ UKTV deal

Analysts have reacted positively to Scripps Networks Interactive’s £339 million (€386 million) deal for a 50% share in UK digital channel group UKTV.

Credit ratings agency Moody’s says that Scripps can easily afford to find the deal from its cash reserves, which stood at US$713 million (€497 million) at end-June. The agency said Scripps will retain its decent credit rating because of its strong liquidity position and high level of financial flexibility. The deal for UKTV is expected to close in the fourth quarter.