NBC Universal, Bain Capital and The Blackstone Group announced the signing of a definitive agreement to acquire The Weather Channel properties from Landmark Communications. The Weather Channel will be operated as a separate entity, based in Atlanta, with management services to be provided by NBC Universal. Financial terms of the transaction were not disclosed.
The transaction includes The Weather Channel Networks, the third-most-distributed cable network, seen in more than 97% of cable television homes in the U.S.; The Weather Channel Interactive, which includes weather.com, the nation’s leading weather website, with nearly 40 million unique visitors per month, and a leading mobile business; and Weather Services International, a global leader in weather forecasting, with more than 5,500 clients worldwide.
Originally posted on July 7, 2008 @ 8:04 am