Bed Bath & Beyond has acquired Scripps-backed home furnishings flash sales platform One Kings Lane for a sum likely to be far less than its $912m series E valuation.

Retail chain Bed Bath & Beyond has acquired US-based online home decorations and furnishings retailer One Kings Lane for an undisclosed sum, giving media company Scripps Network an exit.

Founded in 2009, One Kings Lane runs a flash sales platform that sells upscale home products sourced from home furnishings companies, designers and vintage furniture dealers. It also provides home decoration advice online and related services through studios in San Francisco and New York.

The price paid by Bed Bath &…