Some bids in for Weather Channel
- March 11, 2008
About a half-dozen properties have shown interest in purchasing the Landmark Communications-owned Weather Channel, according to Reuters news service and The New York Times.
Citing unnamed sources, the organizations said the list price has been pegged at about $5 billion. The sources named NBC Universal, Time Warner Inc, CBS Corp., Comcast Corp., the Walt Disney Co. and Liberty Media as interested companies. Preliminary bids were due this week.
Norfolk-based Landmark Communications announced earlier this year it would explore selling its media properties, which also include The Virginian-Pilot, the Roanoke Times and 50 community newspapers. By far, the Weather Channel and its companion Web site are expected to be the largest cash cows.
The Virginian Pilot reported that financial prospectuses were still being revised for the company’s newspaper holdings.