Time Warner, NBC Universal Competing for Weather Channel

Authored by Mark Hefflinger on June 6, 2008 - 9:38am.

Atlanta - Time Warner (NYSE: TWX) is competing with a rival group led by NBC Universal (NYSE: GE), Blackstone Group and Bain Capital to acquire Atlanta-based Weather Channel from Landmark Communications, according to a report by Reuters on Friday.

The two competing sides are currently negotiating with Landmark on price, sources close to the matter said, according to the report.

John Martin, CFO of Time Warner, confirmed his company is interested in buying the Weather Channel, but did not provide details.