NBC/Universal buys weather channel $3.5 billion

[dixiebreeze]

Excerpt:

NBC Universal to buy The Weather Channel for $3.5BPublished - Jul 06 2008 04:10PM EDT | AP
By SETH SUTEL - AP Business Writer
NBC Universal and two partners said Sunday they have reached a deal to buy The Weather Channel from Landmark Communications Inc., ending a drawn-out process that had attracted interest from several major media companies.

Financial terms weren't disclosed, but a person familiar with the matter who insisted on anonymity said the purchase price was $3.5 billion in cash. NBC was joined in the deal by the private equity firms The Blackstone Group LP and Bain Capital LLC.

In addition to The Weather Channel, which can be seen by 97 percent of U.S. cable subscribers, the deal also includes several related assets such as weather services for newspapers and radio stations and the widely used Web site Weather.com.

[TexasSam]

I wonder what that means for NBC's Weather Plus?

[lurkey]

I wonder what that means for NBC's Weather Plus?

Probably be phased out or will get its information from TWC. NBC did state that TWC will remain (for foreseeable future) an independent operation.

From NY Times article:

Under the terms of the deal, the Weather Channel will be run as an independent operation, rather than being merged into NBC’s own meteorological offering, NBC Weather Plus. Built as a competitor to the Weather Channel, Weather Plus has long been seen as an also-ran, with fewer viewers and generally higher placement on the channel dial.

NBC will still provide management services. The buyers also intend to help expand the Weather Channel’s online and mobile services.

“This deal makes us the pre-eminent leader in news and information,” Jeffrey Zucker, NBC Universal’s chief executive, said, citing the company’s assets in NBC News, the business channel CNBC and the news channel MSNBC. “We’re No. 1 in business news, No. 1 in general broadcast news, and now we’re No. 1 in weather news too,” he said.

After the deal closes, viewers may see The Weather Channel storm expert Jim Cantore on MSNBC and the “Today” weatherman, Al Roker, on cable.

“The cross-promotional opportunities will work both ways,” Mr. Zucker said. “We’re very excited about it.”

Mr. Zucker said the future of Weather Plus was “undetermined at this point,” and said the company and its affiliate partners would evaluate it “in the next few months.”

NBC Weather Plus was built four years ago to be a competitor to The Weather Channel, using NBC’s local affiliates and the multicasting abilities of digital television. It is a name for a number of services, including a 24-hour network sponsored by local stations, a Web site, and short weather updates for NBC’s cable channels. The service has not yet turned a profit and is perceived to be faltering.

[senorpepr]

viewtopic.php?f=6&t=101160

[stormy1970al]

This should be interesting because our local NBC used accuweather.