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Report: NBC near Weather Channel deal
The TV channel, its Web site and related businesses would be part of the deal, The Wall Street Journal reported Saturday, citing anonymous sources. The newspaper said the transaction could be completed by as early as this weekend, more than six months after current owner Landmark Communications Inc. put the Weather Channel up for sale.
NBC Universal and its financial partners, Blackstone Group LP and Bain Capital LLC, entered into exclusive negotiations with Landmark last month after rival Time Warner Inc. pulled out, the Journal said. Landmark had originally hoped to land $5 billion for the cable television franchise.
Included in the sale would be Weather.com and Weather Services International, which provides weather data and services to local television stations, radar maker Enterprise Electronics Corp. and Landmark's interest in Pelmorex, a Canadian weather company.
Copyright 2008 by United Press International
This news arrived on: 07/05/2008
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Posted Comments:
07-07-2008 01:13
Shane Croker wrote:
Down the tubes goes the Weather Channel.
07-06-2008 16:35
John T. wrote:
Weather forecast.
Re: Weather. You can always ask a policeman the time. If you ask him what the weather is going to do, he might pull out a bit of seaweed from his pocket. If it's limp, it may rain. If it's crisp, it will not be raining. Who's paying 3.5 BILLION to know what everyone knows?? Is this inflation or depression?
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