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

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...


FINalternatives Trending

From the current issue of