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Three Bidders Remain for Weather Channel

May 27, 2008  •  Post A Comment

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

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