Deadline Nears for Weather Channel Bids

DEADLINE NEARS FOR WEATHER CHANNEL BIDS
[SOURCE: New York Times, AUTHOR: Andrew Ross Sorkin]
A half-dozen media companies have signaled that they plan to bid for the Weather Channel, which is up for auction. Suitors include NBC, CBS, the Walt Disney Company, Time Warner, the Comcast Corporation and Liberty Media. Also, a handful of private equity firms, including Bain Capital, Providence Equity Partners and Madison Dearborn, have indicated an interest, though they are unlikely to be serious bidders because of the tight credit markets. The Weather Channel, owned by Landmark Communications, a privately held company controlled by the Batten family of Norfolk, Va., has set Friday as a deadline for preliminary bids. Landmark indicated that it is hoping to sell the Weather Channel for as much as $5 billion. However, several prospective suitors have suggested that the asking price is too high and should be $4 billion at the most.
http://www.nytimes.com/2008/03/06/business/media/06deal.html?ref=todayspaper
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