Bids due in for Weather Channel | |
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06-03-2008
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Will the sun come out next week for Landmark’s Weather Channel? Preliminary bids are expected within the next 10 days. The Weather Channel makes fascinating viewing, and is a valuable property for Landmark Communications, given its presence on just about every US cable system. Reports out of Los Angeles suggest that bids of about $5bn are being discussed by a variety of high-profile bidders, including NBC Universal, Time Warner, CBS and expansionist cable operator Comcast. JP Morgan and Lehman Bros are handling the sale options for Landmark, and reportedly about 20 would-be buyers have inspected Weather Channel’s books. Part of the overall value is in the Weather Channel’s web-site, which draws 35m unique users a month, and makes it one of the web’s Top 20 sites.
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