Thursday, 31 July 2014
Last updated 1 hour ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…