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NBC Universal to buy The Weather Channel for $3.5BPublished 07/06/08
NEW YORK (AP) - 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.
In addition to The Weather Channel, which can be seen by 97 percent of U.S. cable subscribers, the deal also includes several related assets such as...
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