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Showing posts with label GE. Show all posts
Showing posts with label GE. Show all posts
Tuesday, December 21, 2010
Sunday, July 6, 2008
NBC weathers the weather channel
NBC and its Partners Announce Deal
To Buy Weather Channel and Assets
BY MERISSA MARR and PETER LATTMAN
General Electric Co.'s NBC Universal and two financial partners announced a deal Sunday to buy the Weather Channel and its related assets. Financial terms of the deal weren't disclosed but people familiar with the situation said the price tag was just under $3.5 billion.
The deal brings to an end a lengthy auction that saw several contenders fall by the wayside. NBC Universal and its partners, Bain Capital LLC and Blackstone Group LP, entered exclusive negotiations with the Weather Channel's owner Landmark Communications Inc. last month after rival contender Time Warner Inc. pulled out of the bidding.
In a statement, the acquiring team said NBC Universal would manage the Weather Channel, but it would continue as a separate entity based in Atlanta.
The sale includes the Weather Channel cable networks, weather.com and Weather Services International, which provides weather data and services to local television stations. It also includes Enterprise Electronics Corporation, a manufacturer of meteorological radars, and Landmark's interest in Pelmorex, a Canadian weather company.
To Buy Weather Channel and Assets
BY MERISSA MARR and PETER LATTMAN
General Electric Co.'s NBC Universal and two financial partners announced a deal Sunday to buy the Weather Channel and its related assets. Financial terms of the deal weren't disclosed but people familiar with the situation said the price tag was just under $3.5 billion.
The deal brings to an end a lengthy auction that saw several contenders fall by the wayside. NBC Universal and its partners, Bain Capital LLC and Blackstone Group LP, entered exclusive negotiations with the Weather Channel's owner Landmark Communications Inc. last month after rival contender Time Warner Inc. pulled out of the bidding.
In a statement, the acquiring team said NBC Universal would manage the Weather Channel, but it would continue as a separate entity based in Atlanta.
The sale includes the Weather Channel cable networks, weather.com and Weather Services International, which provides weather data and services to local television stations. It also includes Enterprise Electronics Corporation, a manufacturer of meteorological radars, and Landmark's interest in Pelmorex, a Canadian weather company.
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