07|07|2008 11:00 pm EDT

NBC Finalizes Purchase of Weather.com

by Chad Kettner in Categories: News

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NBC Universal, along with private equity firms Bain Capital LLC and Blackstone Group LP, has agreed to a purchase price to buy the Weather Channel, including Weather.com, from Landmark Communications Inc.

The terms have not been disclosed, but a number of media outlets are speculating the price to be around $3.5 billion. Weather.com, created in 1995, was the most highly coveted asset in the transaction.

[via Bloomberg.com]

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Tags: Tags: blackstone group , brain capital , landmark communications , NBC Universal , weather channel , weather.com.

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