So the latest round of bidding for Landmark Communications Inc.'s Weather Channel is supposed to close
Thursday. Strategic bidders reportedly include NBC Universal, CBS Corp., the Walt Disney Co., Time Warner Inc., the Comcast Corp. and Liberty Media Corp. David Joyce, analyst for Miller Tabak + Co. LLC, shared his thoughts with Dealscape about the auction.
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"It could be justified for anyone with a strong news operation," Joyce said, "especially those that own stations and can air different programming on their companion digital channel."
However, the major networks and broadcasters are not the only expected bidders, as Cablevision, Comcast and Liberty Media have also been associated with the auction.
"It could be logical for Liberty Media since it owns 48% of DirecTV," he added. "Comcast would still be in the hunt since they have the largest Internet 'portal' with its broadband subscribers; its Fancast is expected to grow, and it owns other cable [channels]."
Landmark Communications reportedly was seeking $5 billion when the auction started in January, but more recent reports suggest that the figure could be lower. Joyce said, "The chatter is that the price could be in the $3 billion to $4 billion range."
Bankers J.P. Morgan Chase & Co. and Lehman Brother Inc. are handling the sale for Landmark. - Maria Woehr
