NBC Universal to buy Weather Channel

by PEP | July 6, 2008 at 05:09 pm

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The Weather Channel: valued at a reported $3.5 billion. I regret to see it sold to NBC Universal,which, with MSNBC and other companies, is acquiring quite a monopoly.

NBC Universal and two partners said Sunday they have reached a deal to buy The Weather Channel from Landmark Communications Inc., ending a drawn-out process that had attracted interest from several major media companies.

Financial terms weren't disclosed, but a person familiar with the matter who insisted on anonymity said the purchase price was $3.5 billion in cash. NBC was joined in the deal by the private equity firms The Blackstone Group LP and Bain Capital LLC.