NBC and CBS chase Weather Channel

chris

May 8 sees the latest round of bidding close for Landmark’s Weather Channel. It seems NBC-Universal and CBS have a taste for the bad weather.

Reports suggest that fewer than five bidders are still in the frame, and none of them seemingly keen to stump up anything like the $5bn Landmark Communications was seeking. Bankers JP Morgan and Lehman Brothers are handling the sale for Landmark.

Les Moonves, CEO of CBS, speaking on an April 29 analysts conference call, said the broadcaster looked at everything but did not specifically mention the Weather Channel, and also said he did not anticipate announcing anything major – which might be telling.

Earlier names reportedly interested in mopping up the channel included Time Warner, Liberty Media, Disney and Comcast.



Source: Rapid TV News