The Weather Channel Sale Wraps
Landmark Communications concludes sale of The Weather Channel to NBC Universal, two private-equity groups.
By Robert Marich -- Broadcasting & Cable, 9/12/2008 8:16:00 AM
Landmark Communications said Friday that it concluded the sale of The Weather Channel to NBC Universal and two private-equity groups in what previously described as a nearly $3.5 billion transaction.
NBCU’s partners are Blackstone Group and Bain Capital. The TWC assets include the cable network, weather.com, Weather Services International, Enterprise Electronics and Canadian weather outfit Pelmorex.
NBCU and its two partners won an auction in early July to buy TWC.
In Friday’s statement, Landmark also said it transferred the company’s other businesses -- which are all earmarked to be sold -- to a new entity named Landmark Media Enterprises. LME’s executive lineup is the same as Landmark Communications.
Landmark has a deal pending to sell its Nashville, Tenn., CBS affiliate, WTVF-TV, to Bonten Media Group, ahd the company said it is looking for a buyer for CBS affiliate KLAS in Las Vegas.
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