Blackstone, Bain Poised To Buy The Weather Channel

Jun 16 2008 | 2:00am ET

An investor group including a pair of alternative investment heavyweights is a step closer to owning the Weather Channel.

The group, which is led by NBC Universal and includes the Blackstone Group and Bain Capital, is the only remaining bidder for the iconic television network after Time Warner withdrew its offer. Time Warner’s exit came as it refused to increase its bid by the deadline Friday.

The Blackstone-Bain group has reportedly offered $3.5 billion for the Weather Channel, including about $600 million in debt to be provided by hedge fund GSO Capital, which Blackstone acquired in January.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

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

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of