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Business Briefing / TELEVISION

Weather Channel sale completed

September 13, 2008|From Times Wire Services

Landmark Communications Inc. said it had closed its $3.5-billion sale of the Weather Channel to NBC Universal and two private equity firms.

NBC Universal, a unit of General Electric Co., was joined in the acquisition by private equity firms Blackstone Group and Bain Capital. The deal was announced in July.

In addition to the Weather Channel, which can be seen by 97% of U.S. cable subscribers, the deal includes several related assets such as weather services for newspapers and radio stations and the widely used website Weather.com.

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