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

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.