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Weather Channel moves closer to deal with NBC
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Posted on
Jun 16 2008 4:11 AM
by
adeal
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An investor group led by NBC Universal moved closer to buying The Weather Channel Friday after Time Warner Inc. dropped out of the bidding. NBC Universal, a unit of General Electric Co., said late Friday that it had entered exclusive negotiations to buy The Weather Channel from its owner, Landmark Communications Inc. NBC is working on the bid together with the private equity investment firms The Blackstone Group and Bain Capital.
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