US Media Giant Scripps Pays $366m for UK Shopping Site

20 March 2006

    CINCINNATI - In its second recent foray into online shopping, US media company E W Scripps has agreed to pay $366 million (€300.07m; £208.35m) to acquire uSwitch, a UK-based provider of online price-comparison services.
    Founded in 2000, uSwitch calculates which energy provider is cheapest and lets users change providers. It has expanded into telephone and other home services, but more than half of the company's revenue today is derived from consumers switching energy supplier.
    Scripps' acquisition follows that nine months ago of Shopzilla, a comparison-shopping site, for $525m.