NBC Universal, Bain Capital and Blackstone Group have reached an agreement to acquire The Weather Channel from Landmark Communications. This ended many major media companies interest in acquiring the channel. The financial deal were not disclosed but the industry sources reveal that the deal would worth about $3.5 billion and the deal would also include several Weather Channel related assets such as weather services for newspapers and radio stations and the widely used www.weather.com website. Time Warner Inc., CBS Corp. and Comcast have opted out of the bidding process. The Weather Channel with 37 million monthly unique visitors was launched in 1982 with annual revenues of $550 million and has about 1,300 employees.
Related posts:
- AT&T U-verse TV Launches Weather on Demand in Houston, Texas
- Comcast Corporation Signs Agreement With NBC Universal To Offer 2008 Beijing Olympic Games in HD
- AVP Pro Beach Volleyball Struck Deal With Universal Sports And Comcast’s Regional Sports Networks
- Comcast Launches 46 HD Channels in Baltimore County
- Univision Inks Carriage Deal With Mediacom Communications
