Saturday, 23 May 2015
Last updated 21 hours 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…