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#1
31-03-2008, 02:43 PM
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Bidders looking at Weather Channel
Bidders looking at Weather Channel
 News Corp, NBC Universal and Time Warner are just some of the names reported to be examining the books and assets at the Weather Channel. Atlanta-based The Weather Channel (TWC), owned by Landmark Communications, is up for sale with its owners said to be looking for upwards of $5bn for the channel. That sum might be a little optimistic in today’s somewhat cash-strapped economic climate, but the broadcast channel and its weather.com website create a mighty popular pairing. The Weather Channel itself is saying nothing, according to Atlanta Constitution, the local daily, but the newspaper takes a punt at some of the names in the frame. One the paper suggests is News Corp, notwithstanding that Rupert Murdoch is still digesting the Dow Jones and Wall Street Journal meal. NBC Universal is also specifically mentioned, and the rationale is that NBC-U is comfortable with a portfolio of niche channels including Bravo and USA. But it already has an investment in Weather Plus, and TWC might be a hindrance. “However, NBC’s parent company General Electric is going to be too worried about its earnings to do such a deal at the purported asking price, analysts say,” reports the Constitution. Just down the road from TWC is CNN (at the Omni in downtown Atlanta) and Cartoon Network, TCM, TBS and their various spin-offs (at Turner Broadcasting’s Techwood HQ). In other words, Time Warner might find a nice slot for TWC amongst its cluster of Turner-based channels. But the $5bn invoice might be a little rich for Time Warner suggests the newspaper. Cable giant Comcast is also TWC’s biggest customer, and already has a portfolio of cable channels, including E! Entertainment, the Golf Channel and TV One. Again, the paper suggests the price might be high for Comcast. Two other names are listed in the “probably not” column: CBS and Discovery Communications. Neither can be eliminated given that CBS boss Les Moonves has already said he likes the channel, and Discovery bought the US Travel Channel from Landmark a few years ago. A sale is still likely to be some months off.
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