Bain, Blackstone To Buy The Weather Channel

Jul 7 2008 | 11:13am ET

A pair of private equity giants and NBC Universal has struck a deal to buy The Weather Channel.

The price was just under $3.5 billion, Reuters reports. The group has been in exclusive talks with TWC owner Landmark Communications since last month, when a competing bid from Time Warner went by the wayside.

The three buyers will split the $1.8 billion in equity roughly equally, while Blackstone’s GSO Capital hedge fund provides about $600 million in debt. TWC will continue to operate as an independent entity, managed by NBC.

“This is a premier media asset with a unique position across all three screens—television, PC and mobile—and exciting growth prospects in each of them,” Michael Chae of Blackstone said.

The deal is expected to close by the end of the year.


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

Near Term Consolidation In Bullish U.S. Dollar Trend

May 11 2015 | 11:38am ET

The US Dollar is in a multi-year bull market, according to Conor O’Mara, investment...

 

Editor's Note