Bids for a majority stake in the Travel Channel have come in substantially ahead of initial expectations, with unexpected private equity interest adding to demand from media companies rushing to build in the resilient cable television industry as other parts of their portfolios struggle.

Second-round offers indicate that a sale of the 65 per cent stake that Cox Communications put up for sale in June could value the US channel at $800m or more, according to three people familiar with the auction’s progress. Analysts had expected final offers of $600m-$700m.