NBC Universal to buy The Weather Channel for $3.5B

NBC Universal to buy The Weather Channel for $3.5B

www.physorg.com

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.

(visit the link for the full news article)



[edit on 7-7-2008 by Maxmars]

General Electric scoops up yet another score in the ever decreasing number of media owners.

If you're a follower of the dwindling number of sources of information in the media game, this one's for you. For the NWO aficionados I note that Blackstone is one of those mega-hedge fund groups who are blessed with profit regardless of what they are involved in. Bain is another mega investment company of global significance.

Deutsche Bank Securities Inc., GE Commercial Finance, GSO Capital Partners and Sankaty Advisors LLC will provide debt financing for the transaction.

These guys need financing? Wow.

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.

www.physorg.com
(visit the link for the full news article)