Landmark Set to Sell Weather Channel, Other Assets

Jan 3, 2008  •  Post A Comment

Landmark Communications plans to put its assets, which include the Weather Channel, up for sale.
In a statement Thursday, Landmark said it has retained investment banks J.P. Morgan and Lehman Brothers to assist in exploring strategic alternatives, including the possible sale of the company’s businesses.
“At this early stage, we cannot speculate on where this process will lead,” Landmark Chairman and CEO Frank Batten Jr. said. “We will consider various options and, at the end, we will advise employees and customers of our conclusions.”
The Weather Channel is one of the few remaining independent cable channels. During the third quarter, it ranked 42nd in total viewers among all advertising-supported cable networks.
Possible buyers included NBC Universal, News Corp. and Comcast.
In addition to the Weather Channel and its Weather.com Web site, Landmark owns nine daily newspapers and more than 100 other publications. It had revenues of $1.75 billion in 2006.
Updated at 9:52
(Editor: Baumann)


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