Weather deal brightens NBC forecast

July 06, 2008 NBC Universal's buyout of the Weather Channel -- one of the last big independent cable networks -- will further boost NBC Uni's suite of news and information properties on TV and in the digital world, opening the door for a flurry of cross-media promotions between the two entities. After weeks of exclusive negotiations, the General Electric entertainment arm and private equity firms Bain Capital and the Blackstone Group on Sunday announced a definitive agreement to acquire Weather from privately-held Landmark Communications. While the companies didn't disclose financial details, sources said the price tag is close to $3.5 billion -- well off the originally targeted $5 billion.

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