New York - Landmark Communications announced that it has agreed to sell The Weather Channel to a group made up of NBC Universal (NYSE: GE) and the private equity firms of The Blackstone Group and Bain Capital. Terms of the deal were not disclosed, but sources familiar with the deal said the price was "just under $3.5 billion," according to a report by Reuters.

The Weather Channel Cos. includes The Weather Channel cable network, Weather.com and other interactive businesses, as well as Weather Services International and Enterprise Electronics Corp., and an interest in Pelmorex.

Landmark is a privately held media and business services firm with interests in cable programming, newspapers, broadcasting, specialty classified advertising products, interactive marketing, and information, broadband and data services.

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