Blackstone Group

NBC Universal, PE Firms to Acquire The Weather Channel

Authored by Mark Hefflinger on July 7, 2008 - 9:55am.

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.

Time Warner Pulls Out of Bidding War for Weather Channel

Authored by Mark Hefflinger on June 13, 2008 - 8:56am.

New York - Time Warner (NYSE: TWX) has withdrawn from its attempt to acquire the Weather Channel, according to a report by Reuters on Friday, which cited sources close to the negotiations.

Bidders Line Up to Acquire the Weather Channel from Landmark

Authored by Mark Hefflinger on May 23, 2008 - 8:37am.

New York - Several bidders appear to be in contention to buy the Weather Channel cable network form owner Landmark Communications, including Time Warner (NYSE: TWX) and a partnership between private equity firm Blackstone Group and NBC Universal (NYSE: GE), Reuters reported on Friday.

Private Equity Firm Blackstone Group Raises $4.13 Billion in IPO

Authored by Mark Hefflinger on June 22, 2007 - 11:09am.

New York - In one of Wall Street's most anticipated initial public offerings in months, New York-based private equity giant Blackstone Group raised more than $4.13 billion in its IPO late Thursday, pricing more than 133 million shares at $31 each, the top end of their expected range.