NEW YORK Privately held Landmark Communications will probably have to lower its expectations for the Weather Channel, with Time Warner and the team of NBC Universal and private-equity firm Blackstone Group apparently the only suitors remaining as second round bids were due Friday.
The bidders were expected to offer $3-4 billion each for the cable channel, down from the $5 billion originally earmarked by Landmark, The Wall Street Journal reported.
The newspaper also cited a range of other possible bidders.
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