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Entries tagged "Landmark Communications"Landmark Communications continues divestmentsLast week's $3.5 billion sale of the Weather Channel did not mark the end of Landmark Communications Inc.'s strategic review. Television operator Bonten Media Group Inc. said on Monday it is buying Landmark's Nashville CBS affiliate, WTVF-TV. Bonten has backing from New York firm Diamond Castle Holdings LLC, which is writing the equity check. Lehman Brothers Inc. is providing debt financing.... Weather Channel sale to be announced soon?There are reports that Landmark Communications Inc. could finally announce a sale of the Weather Channel to a group made up of NBC Universal, Blackstone Group LP and Bain Capital LLC in the next day or two, according to Reuters. Time Warner Inc. dropped out of the bidding on June 13 leaving the group the lone bidders in the auction. Bids for the Weather Channel were rumored to be around $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.Landmark is also shopping Dominion... Breaking: Time Warner withdraws Weather Channel bidTime 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 WoehrWeather Channel auction enters latest... Landmark puts Dominion on the blockAs Landmark Communications Inc. nears a sale of its prize possession, the Weather Channel, the family-owned company is now pushing ahead with the sale of Dominion Enterprises, an advertising Web site and publication business formed in 2006, and could apparently sell for $1.4 billion. ... Weather Channel in direct talks with biddersApparently 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. ... Weather Channel auction enters latest roundThe latest round of bids for the Weather Channel are due Friday. In earlier rounds, bids only reached $3.5 billion, instead of the $5 billion the parent company, Landmark Communications Inc., was asking. ... Joyce: Who is bidding for Weather Channel?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. ... CBS has its eye on the Weather ChannelCBS Corp. CEO Les Moonves acknowledges the network's interest in bidding on the Weather Channel, according to Bloomberg. While CBS' involvement in the auction is no surprise, Moonves' other comments to Bloomberg about deals while at the McGraw Hill Media Conference may shock some. ... Weather Channel auction awash in biddersOnly two months after going on the block, as expected Landmark Communications Inc. reportedly has strong interest in the auction of the Weather Channel. The Reuters Dealzone blog is reporting that NBC Universal Inc., Time Warner Inc., CBS Corp. and Comcast Corp. are likely to place bids by next week's deadline, but they may not offer the rumored $5 billion asking price. Additionally, The Deal's Auction Block lists other likely bidders as Discovery Communications Inc., Cablevision Systems Corp., Advance/Newhouse and Hearst Corp. PaidContent estimates there could be up to 20 bidders in the auction. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Landmark Communications." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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