Time Warner, NBC Universal and private equity firm Blackstone Group appear to be the only remaining bidders for Landmark Communications’ Weather Channel, the Hollywood Reporter says. The high asking price, a lack of synergy and different corporate priorities are said to be blamed for the decline in suitors as second-round bids were due Friday, the newspaper says. Each bidder is expected to offer between $3 billion and $4 billion, down from Landmark’s asking price of $5 billion, the newspaper notes.
—Vlada Gelman