You will be redirected back to your article in seconds

Weather Channel Hires Investment Banks To Pursue Sale Options

The parent company of the Weather Channel has taken another step toward putting itself on the auction block by enlisting banks Morgan Stanley and PJT Partners to pursue a sale of the TV and digital company.

Bloomberg News reported Wednesday that the banks have been tasked with exploring a number of options for the Atlanta-based Weather Co., owned by Bain Capital, Blackstone and NBCUniversal. That trio acquired the company for $3.5 billion in 2008. The sale scenarios include the possibility of separating the more robust digital side of Weather Co. from the cable channel, according to Bloomberg.

The Weather Channel has faced a stormy few years at a time of contraction in the traditional pay TV business. The company has had public carriage battles with MVPDs including DirecTV, Dish Network and Verizon, as operators look for ways to trim costs and drop lower-rated channels. Weather data has become so readily available online and via mobile devices that the Weather Channel is no longer the vital addition to a pay-TV bundle that it once was.

The writing has been on the wall for Weather Co. as rumors of a sale increased. In June, NBCU parent Comcast took a $250 million writedown on its interest in Weather Co. in the second quarter, valuing its minority stake at $86 million.

A rep for Weather Co. declined to comment.

More TV

  • Bristol, CT - March 13, 2017

    Mina Kimes Helps ESPN Kick Off 'Daily' Podcast

    Mina Kimes is preparing to take ESPN into a new frontier. The sports-media giant has launched a “SportsCenter” for Snapchat and tested baseball telecasts for kids. Now it’s hoping to set up shop in another media venue. Starting tomorrow, the Disney-backed company launches “ESPN Daily,” a weekday morning podcast that aims to tap its vast [...]

  • MIA Wrap

    Rome MIA Market Wraps With Stronger U.S. Presence, Boosts Italy's Industry Standing

    Rome’s MIA market for TV series, feature films and documentaries wrapped positively Sunday with organizers boasting a bump in attendance just as some 2,500 executives departed in an upbeat mood after four days of dealmaking and presentations of mostly European fresh product, which elevated Italy’s global standing in the industry, especially within the TV sector. [...]


    Showrunner Stefano Voltaggio on Netflix's 'Zero' About Black Youths in Italy (EXCLUSIVE)

    Netflix recently announced a new Italian original titled “Zero” that will mark the first Italian series centered around the present-day lives of black Italian youths. “Zero” is based on several books by young writer and TV music show host Antonio Dikele Distefano, who was born in Italy from Angolan parents. The project was originated by [...]

  • Content-is-King

    Top TV Execs Tackle New Distribution Landscape in Rome

    ROME – In an increasingly complex TV market, with a host of new big-ticket streaming services preparing to enter an already crowded arena, both buyers and sellers are rethinking some of the fundamentals of the TV business as they grapple with the best way to reach global audiences. A host of top producers, network executives, [...]

  • MIA-MARKET-2019_Europe-Producers-Club_4

    European Producers and Broadcasters Debate How to Weather Streaming Storm

    ROME – The impending rollout of Disney Plus, HBO Max, and other new streaming services promises a new era of uncertainty—and opportunity—for broadcasters and producers in an industry already disrupted by the likes of Netflix and Amazon. At a panel hosted by the European Producers Club Friday afternoon during the MIA market in Rome, executives [...]

  • Kevin-Beggs

    Lionsgate TV Chairman Kevin Beggs on Streamers and TV’s ‘Platinum Era’

    ROME – Over the course of two decades in the industry, Lionsgate Television chairman Kevin Beggs has witnessed the ups and downs of a business that has frequently found itself confronting both dizzying new possibilities as well as existential threats. But these days the veteran exec, who oversees the development of all scripted and non-scripted content [...]

More From Our Brands

Access exclusive content