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Redeemable Noncontrolling Interests and Noncontrolling Interest
9 Months Ended
Sep. 30, 2012
Redeemable Noncontrolling Interests and Noncontrolling Interest [Abstract]  
Redeemable Noncontrolling Interests and Noncontrolling Interest
12.  Redeemable Noncontrolling Interest and Noncontrolling Interest

Redeemable Noncontrolling Interest

A noncontrolling interest holds a 35% residual interest in the Travel Channel. The noncontrolling interest has the right to require us to repurchase their interest and we have an option to acquire their interest. The noncontrolling interest will receive the fair value for their interest at the time their option is exercised. The put option on the noncontrolling interest in the Travel Channel becomes exercisable in 2014. The call option becomes exercisable in 2015.

Our condensed consolidated balance sheets include a redeemable noncontrolling interest balance of $116 million at September 30, 2012 and $163 million at December 31, 2011.

Noncontrolling Interest

A noncontrolling interest holds a 31% residual interest in the Food Network partnership, which is comprised of the Food Network and the Cooking Channel.  The Food Network partnership agreement specifies a dissolution date of December 31, 2012.  The partners are currently discussing an extension of the term of the partnership.  If the term of the partnership is not extended prior to the specified dissolution date, the agreement permits the partnership to be reconstituted and its business continued. There are also other options for continuing the business of the partnership, which the Company is considering, including offering to purchase the approximate 31% interest from the noncontrolling partner.  We expect that the partners, or the management committee of the partnership, will take action prior to December 31, 2012 to continue the partnership.