Holy Devaluation Batman!
An investor group led by NBC Universal and two private equity firms clinched a deal for the Weather Channel on Sunday after three weeks of negotiations.
Though the parties did not disclose the price, the buyers, NBC and the private equity firms Bain Capital and the Blackstone Group, will pay just under $3.5 billion, people briefed on the matter said.
– The New York Times’ Michael J. de la Merced in 2008
Comcast Corp, in a quarterly regulatory filing on Thursday, said it took a $252 million impairment charge related to the goodwill on its investment in the Weather Channel. As of June 30, Comcast valued its stake in the Weather Channel at only $86 million, down from $335 million at the end of last year.
– The Wall St Journal’s Shalini Ramachandran today.