Time Warner Inc. is withdrawing its bid to buy Landmark Communications Inc.'s Weather Channel due to price, reports Reuters. That would leave a group made up of NBC Universal Inc., Blackstone Group LP and Bain Capital LLC as the lone bidders, according to rumors. CBS Corp. fell out of the auction after acquiring Cnet Networks Inc. for $1.8 billion. Bids for the Weather Channel were rumored to be $3.5 billion, instead of the $5 billion Landmark Communications was asking. Landmark, which is privately owned by Frank Batten Jr., also owns newspapers and television stations. -- Maria Woehr
By Edward Schneidman, Michael Blair and David Malinger, Mayer Brown
Real estate sponsors that might wish to undertake an IPO will need to consider a wide variety of issues and begin to take action long before the first filing with the SEC.
Paulson's proposal to purchase an equity stake in Yellow Pages publisher Idearc is the second time in recent months an investor group has used its prepetition debt position to execute a bargain price 'exit LBO.'
Time Warner Inc. is withdrawing its bid to buy Landmark Communications Inc.'s Weather Channel due to price, 
