Bid for Weather Channel Now Rests With NBC

What You Should Have Read, June 13, 2008

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Bid for Weather Channel Now Rests With NBC

New York Times, on its blog TVDecoder, notes that a group led by NBC Universal now appears likely to acquire The Weather Channel, after Time Warner withdrew its bid for the channel on Friday. Time Warner, which owns CNN and other news and information outlets, stepped away from the bidding due to price, according to an executive close to the transaction. NBC Universal and two private equity firms, the Blackstone Group and Bain Capital, had submitted a bid of about $3.5 billion including debt. NBC could merge The Weather Channel with its upstart weather venture, NBC Weather Plus, and share some news resources with the channel.
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