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Redeemable Noncontrolling Interests and Noncontrolling Interest
9 Months Ended
Sep. 30, 2014
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 either option is exercised. The put option on the noncontrolling interest in the Travel Channel became exercisable on August 17, 2014. The call option becomes exercisable in August of 2015.

Noncontrolling Interest

The Food Network is operated and organized under the terms of a general partnership (the “Partnership”). SNI and a noncontrolling owner hold interests in the Partnership. During the fourth quarter of 2012, the Partnership agreement was extended and specifies a dissolution date of December 31, 2014. The partners are currently discussing an extension of the term of the partnership. If the term of the Partnership is not extended prior to that date, the agreement permits the Company, as the holder of approximately 80% of the applicable votes, to reconstitute the Partnership and continue its business. There are also other options for continuing the business of the Partnership, which the Company is considering. We expect that the partners, or the management committee of the partnership, will take action prior to December 31, 2014 to continue the partnership.