Bids for Weather Channel Due Next Week: Report
Cable Network Could Fetch Up to $5 billion
By Mike Farrell -- Multichannel News, 3/4/2008 9:07:00 AM
Bidders are expected to line up next week for Landmark Communications’ the Weather Channel cable network, according to a report in Reuters Tuesday.
Landmark put The Weather Channel, as well as its newspapers, on the block in January, after it hired investment bankers J.P. Morgan Chase and Lehman Bros. to explore strategic alternatives. The Weather Channel, including its weather.com Web site, is expected to attract as much as $5 billion.
According to Reuters, citing unnamed sources, at least 20 separate parties have expressed interest in the channel. Among the possible bidders: Time Warner Inc., Comcast, NBC Universal and CBS.
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