WEATHER CHANNEL BECOMES HOT PROPERTY WITH A $5 BILLION SALES TAG
January 4th 2008 19:51
Last year MediaBlab reported that with the trendiness of the climate change and global warming issues, normally boring old weather reports would become the new hot media properties.
Now New York Times reports that the Weather Channel, one of America’s most broadly distributed basic cable networks, is preparing to put itself on the block. The sale of the channel, as well as its sister web site, weather.com, could fetch as much as US$5 billion, and the Times speculates that big media companies such as GE's NBC unit, News Corp, and Comcast may be among the suitors. The sale is believed to be part of the break-up of Weather Channel parent Landmark Communications.
The New York Times also said, “The sale of the Weather Channel, once written off as a dull network for weather buffs, could become especially heated as it is one of the few remaining basic cable channels available for sale. One potential suitor described the Weather Channel as ‘beachfront property’.”
- From MediaBlab
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