Scripps Networks Interactive sells uSwitch

AP News
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Posted: Dec 23, 2009 2:29 PM

Scripps Networks Interactive Inc., the owner of HGTV and the Food Network, said Wednesday it has sold uSwitch, a U.K.-based Web site that helps consumers compare energy utilities, to Forward Internet Group for an undisclosed amount.

USwitch was founded in 2000 after the deregulation of energy supplies in the U.K. and has expanded into price comparison and switching tools in other categories such as personal finance, auto insurance and telecommunications.

Scripps Networks Interactive acquired uSwitch in 2006. The company said Alan Tattersall, uSwitch's CEO, will step down to pursue other opportunities.

Forward Internet Group is privately held and based in the U.K.

Shares of Scripps Networks Interactive added 6 cents to $42.01 in afternoon trading.