In its second-largest acquisition, Amazon buys the company for $970 million.
Tim Peterman, the executive behind Scripps’ acquisitions of Shopzilla and Shop At Home, moves up from vice president of corporate development. He retains corporate responsibility for both and will oversee interactive business development.
Tim Peterman, the E.W. Scripps Co. executive behind the company’s acquisition of Shopzilla and Shop At Home, has been named senior vice president of interactive media for Scripps. In his new role, he will have corporate responsibility for both Shopzilla and Shop At Home, as well as oversee development of interactive media business.
“On his watch, Scripps has successfully broadened its portfolio of interactive media businesses in a way that should benefit all of the company’s stakeholders for many years to come,” said Kenneth Lowe, president and CEO. “He’s one of those rare and valuable individuals who have a talent for anticipating and capitalizing on emerging trends in our industry.”
Prior to his new appointments, Peterman had been vice president of corporate development at Scripps since 2002. Previously, he was with IAC/InterActiveCorp for three years, first as CFO of its broadcast division and then CFO of its cable TV network division. Prior to joining IAC, he was in financial management with Sinclair Communications and Tribune Co.
Scripps will continue to report financial results for online comparison shopping service Shopzilla and e-retail site Shop At Home as separate operating segments.