Time Warner Inc. and a partnership between Blackstone Group and General Electric Co.’s NBC Universal are the top contenders to buy The Weather Channel, according to The Wall Street Journal.
The newspaper’s story was based on unnamed sources familiar with the auction. The Weather Channel is owned by privately held Landmark Communications of Norfolk, which also owns newspapers and television stations. The company announced earlier this year it would explore selling its assets separately. Landmark publishes The Roanoke Times and The Virginian-Pilot.
The Journal reported that bids were between the $3 billion and $4 billion mark.
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