Top Contenders for Weather Channel Emerge

What You Should Have Read, May 23, 2008

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Top Contenders for Weather Channel Emerge

The Wall Street Journal reports that Time Warner and a partnership between NBC Universal and Blackstone Group have emerged as leading contenders to win an auction for the Weather Channel, ahead of the May 23 deadline for a second round of bids, people familiar with the auction say. What was a crowded field of contenders is expected to thin and the price has come down since the start of the auction early this year. Bids are expected to come in between $3 billion and $4 billion, according to people familiar with the auction, below the $5 billion the Weather Channel's owner, Landmark Communications, initially had hoped the channel, its Web business and related assets would fetch.
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