NBC Universal to Buy Weather Channel
Posted on July 7, 2008
NBC Universal is buying the popular Weather Channel from Landmark Communications. The plan is for the Weather Channel to continue to operate in Atlanta. NBC closed the deal with Bain Capital and The Blackstone Group.
Jeff Zucker, President and CEO, NBC Universal, said in the announcement, "This will further position NBC Universal as the leading provider of news, information and weather, both online and on television. Joining with The Weather Channel properties plays to our strengths in developing and programming cable networks, and in producing and distributing high-quality content across multiple platforms."
The acquisition price was not disclosed in the official press release, but the New York Times says NBC paid $3.5 billion to acquire The Weather Channel. The Times also says the Weather Channel reaches 96 million households.
In addition to the television network The Weather Channel also operates the populer weather.com site, which gets 40 million unique monthly viewers. Some blogs are saying this could mean a bigger role for Al Roker.