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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...