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Financial terms weren't disclosed, but a person familiar with the matter who insisted on anonymity said the purchase price was $3.5 billion in cash (emphasis mine). NBC was joined in the deal by the private equity firms The Blackstone Group LP and Bain Capital LLC.
Deutsche Bank Securities Inc., GE Commercial Finance, GSO Capital Partners and Sankaty Advisors LLC will provide debt financing for the transaction.
In addition to The Weather Channel, which can be seen by 97 percent of U.S. cable subscribers, the deal also includes several related assets such as weather services for newspapers and radio stations and the widely used Web site Weather.com.