It’s a done deal. NBC Universal will buy the Weather Channel and Weather.com from Landmark for $3.5 billion.
AP is reporting that private equity firms The Blackstone Group LP and Bain Capital LLC joined NBC in the deal, which will also include several related assets such as weather services for newspapers and radio stations.
NBC Universal, became the sole bidder for TWC after Time Warner Inc. dropped out of the race last month.
NBC already operates NBC Weather Plus, a digital weather and news service launched in 2004, which can be seen on digital cable services and digital subchannels operated by NBC stations.
TWC would continue to be operated out of Atlanta. If the two companies get regulatory approvals, the transaction should close by year-end.
Back in January, Landmark was hoping to sell TWC for $5 billion.
Could there be some future layoffs at NBC’s Weather Plus? The $3.5 billion price tag of The Weather Channel could prompt some cost-saving measures, including unloading duplicate positions brought on by the acquisition.