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.

Boston - Private equity firm Bain Capital Partners has agreed to pay $441 million to acquire D&M Holdings, a Japanese manufacturer of consumer and commercial audio-visual electronics products under brands including Denon and Marantz.

New York - Time Warner (NYSE: TWX) has withdrawn from its attempt to acquire the Weather Channel, according to a report by Reuters on Friday, which cited sources close to the negotiations.

San Antonio, Texas - Radio broadcaster Clear Channel (NYSE: CCU) has announced its sale to private equity firms Bain Capital Partners and Thomas H. Lee Partners, for $17.9 billion or $36 per share -- ending litigation between Clear Channel, the private equity firms and a consortium of banks funding the deal. The original value of the deal was $39.20 per share in October 2007, but the banks involved later got cold feet in light of the current credit climate, and the private equity firms sued to enforce the agreement.

Boston - A Texas judge has ordered several banks to follow through with funding the $19.5 billion acquisition of radio network giant Clear Channel Communications (NYSE: CCU) by Bain Capital and Thomas H. Lee Partners, the Associated Press reported. The two private equity firms filed lawsuits on Wednesday against the group of banks, claiming that they were reneging on their agreements to provide long-term financing for the deal.

DMW’s CEO & Publisher provides a wrap-up of the top stories of the week. Who’s hot, who’s not and what’s the industry buzz?

The week started with a bang on news that Yahoo Inc’s (NSDQ: YHOO) board rejected Microsoft Corp.’s (NSDQ: MSFT) unsolicited $44.6 billion offer for the company.

Washington - The U.S. Justice Dept. has approved the buyout of radio giant Clear Channel Communications (NYSE: CCU) by private equity firms Bain Capital and Thomas H. Lee Partners, provided the company divest radio stations in Cincinnati, Houston, Las Vegas and San Francisco.