GE-owned NBC, Bain, and Blackstone are buying the Weather Channel from Landmark Communications for $3.5bn. Each partner will own roughly a third of the company. Credit funds at Bain and Blackstone will both lend debt to the deal. Bain’s fund Sankaty Advisors will contribute to the revolver, term loan, mezzanine debt, and subordinated debt. Roughly half the deal will be financed with equity, according to the New York Times.

• NBC statement

3 Jan 2008 -

What’s the weather (worth)?