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Spin-Off of Scripps Networks Interactive, Inc
6 Months Ended
Jun. 30, 2013
Spin Off of Company [Abstract]  
Spin-off of Scripps Networks Interactive, Inc.
Spin-off of Scripps Networks Interactive, Inc.
On July 1, 2008, we distributed all of the shares of Scripps Networks Interactive, Inc. (“SNI”) to shareholders of record as of the close of business on June 16, 2008. SNI owned and operated our national lifestyle cable television networks and interactive media businesses.
In connection with the separation we entered into several agreements, including a Tax Allocation Agreement. This agreement sets forth the allocations between us and SNI with regards to liabilities for federal, state and local taxes for periods prior to the separation.
Under the terms of the Tax Allocation Agreement we receive any tax deductions for share-based compensation awards held by our employees in SNI. In the first half of 2013 and 2012, tax deductions resulting from the exercise of those awards totaled approximately $8.9 million and $11.1 million, respectively. At June 30, 2013, our employees held options on approximately 0.6 million SNI shares, which expire through 2015.