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NBC Universal agrees to buy The Weather Channel

By Associated Press
July 6, 2008 | Comments (0)

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NBC Universal says it has reached a deal to buy The Weather Channel from Landmark Communications Inc. for an undisclosed sum.

NBC already operates a cable and broadcast weather service called NBC Weather Plus that would make a logical fit with The Weather Channel, a weather news and update network distributed to 97 percent of U.S. cable viewers.

Neither NBC nor Landmark disclosed the purchase price Sunday, but earlier reports had estimated the deal would be worth around $3.5 billion.

NBC is a unit of General Electric Co. It was joined in the deal by the private equity firms The Blackstone Group and Bain Capital.

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