Scripps to sell its search engine
Scripps, having spent $525 million to acquire the Shopzilla product search engine in 2005, is now looking to unload it on a new owner for about the same amount. CEO Kenneth Lowe, the mastermind of both the HGTV cable channel and the Shopzilla deal, wasn't able to do much with this online fixer-upper. Scripps saw its interactive revenues and profits drop in the most recent quarter.