The private equity firms that own The Weather Channel may be looking to sell the network, reports Bloomberg.
The owners have talked with investment banks JPMorgan Chase & Co. and Goldman Sachs Group about a possible sale, the story notes, although the network hasn’t yet started a formal process or hired a bank. Its owners are Blackstone Group LP, Bain Capital and Comcast Corp.’s NBCUniversal.
“The private-equity firms are interested in exploring the idea of selling all or part of the company, according to two people familiar with the matter. They also may decide to hold their ownership stakes rather than sell, the people said,” Bloomberg reports.
The network could be sold separately from its weather data, which could also be bought as a stand-alone business. Together, the units have a value of at least $3.5 billion, the story adds.