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Now if the weather's bad, you can blame NBC
The Weather Channel has been one of the last privately-owned cable channels.
No more. Meet the new owners: NBC Universal and private equity firms Bain Capital and Blackstone Group. The New York Times reports the group paid just under $3.5 billion for the channel and related properties like weather.com. The Weather Channel's parent, Landmark Communications, was hoping to get $5 billion for this deal. Under the terms, the channel will be run as an independent operation, rather than being merged into NBC's Weather Plus.
Posted by Melissa Kaplan on July 7, 2008 9:06 AM PT | Permalink
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