NBC Universal and two financial partners announced on Sunday that they had reached an agreement to acquire The Weather Channel, capping an auction that began in January of this year.
Although financial terms were not disclosed, it is believed that the NBCU consortium will pony up $3.5 billion, well shy of Landmark Communications’ earlier asking price of $5 billion.
Joining NBCU in its bid for The Weather Channel are the private equity firms Bain Capital and The Blackstone Group, which together will contribute $1.8
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in