Weather Channel to NBC Universal?
The TV gossip site NewsBlues reports NBC and an investment consortium has acquired The Weather Channel (TWC). DCRTV suggested as much last Friday. This news has not been confirmed by a major news outlet or an official source, but the NY Times indicates the winner of the bidding war for TWC could be announced this week. Time Warner also bid for the network according to reports.
By Jason Samenow |
June 2, 2008; 7:00 PM ET
Media
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Posted by: Steve, Capital Weather Gang | June 2, 2008 8:21 PM
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I spoke with a CNNer over the weekend who is close to those involved in the bidding. He said that as of friday Time Warner was still very much in the game. They want it badly and they would somehow merge it with CNN's operations.
They are getting 9B in cash later this year so they'll have the capital for it.
Posted by: Weather Mike | June 2, 2008 9:33 PM
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Sorry to hear that :(
Posted by: Steve, Capital Weather Gang | June 2, 2008 9:39 PM
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I sold my stock the day they layed me off in 2001 because of that dumb merger. They just thought they were something special when that happened. Bad case of group-think back in '01. I like to think 7 years on they have finally learned a thing or two about buying companies. I guess I am seeing the donut rather than the hole.
Posted by: Weather Mike | June 2, 2008 11:09 PM
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I believe you are greatly mistaken in trying to compare the AOL merger with a potential purchase of The Weather Channel. I don't even know where to start on discussing the substantial differences... of course risks exist, but it is a very different time and a very different asset.
Posted by: jjohnson | June 3, 2008 10:19 PM
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This just in: CNBC's Media Money honey sez outlook is Sunny With High Chance of Acquisition, but "sources close to the bidding say that talk of a frontrunner is premature." I'm sure I speak for many long-suffering TWX shareholders (down 1.7% today) when I say that I hope they're not the winner. Despite the alleged synergies with CNN, they've seen this movie before.