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Monday, November 23, 
4:34 pm

Weather Channel in direct talks with bidders

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weather_map.jpegApparently the formal bidding for Weather Channel is over, and parent Landmark Communications Inc. has entered direct talks with Time Warner Inc. and a group made up of NBC Universal, Blackstone Group LP and Bain Capital to sell the cable network, Reuters is reporting. The decision is supposed to be made "in days," according to the article.

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Also on Dealscape

Bids for the Weather Channel have only reached $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

See Dealscape's: Weather Channel auction enters latest round
See Dealscape's: NBC and buyout firms in lead for Weather Channel with $3.5B bid
See Dealscape's: Joyce: Who is bidding for Weather Channel?



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