Sunday, 28 December 2014
Last updated 12 min ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.