Scripps Networks Interactive says it is looking to find a buyer that “fully appreciates the value” of the brand, adding uSwitch could be “better served if it were part of another company that could add more direct value to a services comparison business.”
USwitch.com sits within Scripps’ interactive services division alongside shopping comparison site Shopzilla, which the company stresses is not affected by the decision.
First quarter results showed revenue for the division dipped to $50.6m during the quarter compared with $77.5m in the same period last year.
USwitch was founded in 2000 following the deregulation of energy supplies in the UK. It has since expanded its price comparison and switching product offerings into personal finance, auto insurance and telecommunications.
Last September, uSwitch appointed Adam & Eve to handle its £3.5m advertising business. The move came a month after the site hired Steve Weller as director of sales and marketing.
Scripps says that no timetable for completion of a deal has been established.