AP News

News Summary: Scripps investors eye family sale

LOS ANGELES (AP) — SPECULATION: The death of a grandson of founder Edward W. Scripps has prompted speculation that the family might sell its controlling stake in Scripps Networks Interactive Inc. and The E.W. Scripps Co.

MARKET REACTION: Shares of Scripps Networks rose nearly 6 percent before giving back most of the gains on Friday. Large media corporations would likely be interested in its pay TV networks.

CIRCUMSTANCES: Robert P. Scripps was the last surviving descendant for whom The Edward W. Scripps Trust was created. The trust will now be dissolved and the shares will be distributed to beneficiaries. Company statements said "the family's next generation will control" both companies.

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