Weather Channel Sale Could Be Announced Soon

imageThe Weather Channel sale announcement could come in the next couple of days, as the consortium of NBC Universal (NYSE: GE), Blackstone Group LP and Bain Capital close the deal terms. Landmark’s initial hopes of $5 billion won’t come to fruit, but the deal price expected to be between $3 billion and $3.5 billion, and likely at the higher end of that range, reports Reuters, citing sources.

NBCU, Blackstone and Bain would divide $1.8 billion of equity roughly equally in their bid, which would be worth about $3.5 billion, including debt. Blackstone’s GSO Capital — a hedge fund firm specializing in leveraged debt — would provide about $600 million in debt.

The only other contender Time Warner (NYSE: TWX) withdrew its bid two weeks ago.