Comcast Cuts Value of Investment in Weather Channel

By Mark Joyella Comment

Comcast has taken a $252 million impairment charge on its investment in the Weather Channel. The Wall Street Journal reports Comcast made a quarterly regulatory filing Thursday, valuing its stake in the Weather Channel at $86 million–down from $336 million at the end of 2014.

Moody’s downgraded the company’s debt in April, with Weather Channel facing growing questions about its viability as an independent cable channel. Over the last four years, the channel has lost more than 11 percent of its subscriber base, and was dropped in March from Verizon’s FiOS service.