NBC Universal Buys The Weather Channel
July 7, 2008 at 5:19 AM (PT)
NBC UNIVERSAL, BAIN CAPITAL and THE BLACKSTONE GROUP have acquired THE WEATHER CHANNEL properties from LANDMARK COMMUNICATIONS. THE WEATHER CHANNEL will be operated as a separate entity, based in ATLANTA, with management services to be provided by NBC UNIVERSAL. Financial terms of the transaction were not disclosed.
Commenting on the planned acquisition, NBC UNIVERSAL Pres./CEO JEFF ZUCKER said, "This will further position NBC UNIVERSAL as the leading provider of news, information and weather, both online and on television. Joining with THE WEATHER CHANNEL properties plays to our strengths in developing and programming cable networks, and in producing and distributing high-quality content across multiple platforms."