Blackstone, Bain Back Weather Channel Bid

May 30 2008 | 2:00am ET

A pair of alternative investment giants is backing a bid to buy the Weather Channel.

The Blackstone Group and Bain Capital are part of a consortium led by NBC Universal to buy the well-known all-weather television station. Their $3.5 billion offer, which includes about $1.8 billion in equity, is seen as the leading bid for TWC, Reuters reports.

Blackstone’s GSO Capital hedge fund unit would provide about $600 million in debt to finance the bid.

Time Warner is also seeking the station, which was put up for sale by Landmark Communications. Landmark had initially expected to sell TWC for about $5 billion.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of