Monday, July 07, 2008

Weather Channel purchased by NBC

You can't say I didn't call this one. (See my comment on The 2 Dollar Bill's report of TWC's for sale sign in January.)

The Weather Channel has been purchased by NBC, the New York Time Reports:

An investor group led by NBC Universal and two private equity firms clinched a deal for the Weather Channel on Sunday after three weeks of negotiations.

Though the parties did not disclose the price, the buyers, NBC and the private equity firms Bain Capital and the Blackstone Group, will pay just under $3.5 billion, people briefed on the matter said.

That is less than the $5 billion that the Weather Channel’s parent, Landmark Communications, sought when it put the basic cable channel and related properties like up for sale in January.

Before you know it, we'll be seeing Ron Hearst, Brandon Beck, and Dave Snider giving us updates on The Weather Channel.

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