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Author Topic: Breaking News: Time Warner Drops TWC Bid  (Read 3266 times)

Offline Tyler

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Breaking News: Time Warner Drops TWC Bid
« on: June 13, 2008, 03:01:21 PM »
Time Warner Withdrawals bid for The Weather Channel
http://tvdecoder.blogs.nytimes.com/2008/06/13/time-warner-withdraws-bid-for-weather-channel/

A group led by NBC Universal now appears likely to acquire The Weather Channel, after Time Warner Inc. withdrew its bid for the channel on Friday.

Time Warner, which owns CNN and other news and information outlets, stepped away from the bidding due to price, according to an executive close to the transaction who refused to be identified because they were not authorized to speak about the negotiations. Bids were due Friday at noon, according to Reuters, which first reported Time Warner’s decision.

NBC Universal and two private equity firms, the Blackstone Group and Bain Capital, had submitted a bid of about $3.5 billion including debt, The New York Times reported on May 31.

Last week John Martin, the chief financial officer of Time Warner, said that a combination of CNN and The Weather Channel would give the company “a very, very interesting cross-platform play.” In conversations with Wall Street analysts, he has emphasized the need for “price discipline” in the bidding. Time Warner was said to be especially interested in Weather.com and the channel’s production facilities near Atlanta.

The Weather Channel, one of the premiere cable channel brands, is owned by Landmark Communications.

NBC could merge The Weather Channel with its upstart weather venture, NBC Weather Plus, and share some news resources with the channel.

The Weather Channel is the leading brand of weather information on television, reaching 95 million households and averaging an audience of 234,000 households at any given time. NBC Weather Plus is a name for a number of services, including a 24-hour network sponsored by local stations, a Web site, and short weather updates for NBC’s cable channels. Weather Plus has not yet turned a profit and is perceived as faltering.

Offline lfmusiclover

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Breaking News: Time Warner Drops TWC Bid
« Reply #1 on: June 13, 2008, 03:06:20 PM »
Damn Tyler, you beat me to it.  :P

Offline Tyler

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Breaking News: Time Warner Drops TWC Bid
« Reply #2 on: June 13, 2008, 03:12:27 PM »
That's because you suck and I rule. Get it straight.  :lol:

Offline TheRolyPoly

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Re: Breaking News: Time Warner Drops TWC Bid
« Reply #3 on: June 13, 2008, 03:41:49 PM »
Which means NBCU will be the new owner of TWC HD?
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Offline lfmusiclover

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Re: Breaking News: Time Warner Drops TWC Bid
« Reply #4 on: June 13, 2008, 03:43:45 PM »
Most likely, unless there's another party involved that we don't know about.

Offline yourweathertoday

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Re: Breaking News: Time Warner Drops TWC Bid
« Reply #5 on: June 15, 2008, 09:39:06 AM »
dont think that would turn out so good, merging Weather Plus and TWC HD  :hmm:

Offline Jtaylor1

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Re: Breaking News: Time Warner Drops TWC Bid
« Reply #6 on: June 22, 2008, 07:51:24 AM »
R.I.P.

The Weather Channel

(1982-2008)

Offline lfmusiclover

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Re: Breaking News: Time Warner Drops TWC Bid
« Reply #7 on: June 22, 2008, 09:56:42 AM »
I wasn't aware TWC was going anywhere... :unsure:

Offline wxmediafan

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Re: Breaking News: Time Warner Drops TWC Bid
« Reply #8 on: June 22, 2008, 10:08:54 AM »
He is just making an assumption that TWC is going bye-bye once the sale is over with :rolleyes:

Give it a chance, will ya.  The sale hasn't even been approved yet, and you have NO CLUE what is going to happen.

Offline lfmusiclover

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Re: Breaking News: Time Warner Drops TWC Bid
« Reply #9 on: June 22, 2008, 10:11:45 AM »
I assure you that won't be the case. We'll all wake up the morning after the buyout occurs to see that TWC is still on the air, just as it as always been. I agree with you Kyle. People need to wait and see before commenting.

Offline Localonthe8s

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Re: Breaking News: Time Warner Drops TWC Bid
« Reply #10 on: June 22, 2008, 11:45:27 AM »
Isn't this JTaylor1 guy the same one who said all Intellistars would be gone from the HD launch? :huh:

I remember him posting something about this in one of Billy's videos.

Offline lfmusiclover

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Re: Breaking News: Time Warner Drops TWC Bid
« Reply #11 on: June 22, 2008, 12:11:59 PM »
Vic, how many times do I have to tell you that I don't care what people say on YouTube?  :whistling:

Offline Localonthe8s

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Re: Breaking News: Time Warner Drops TWC Bid
« Reply #12 on: June 22, 2008, 12:15:38 PM »
Vic, how many times do I have to tell you that I don't care what people say on YouTube?  :whistling:
Since when? :unsure:

Offline lfmusiclover

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Re: Breaking News: Time Warner Drops TWC Bid
« Reply #13 on: June 22, 2008, 12:44:48 PM »
Vic, how many times do I have to tell you that I don't care what people say on YouTube?  :whistling:
Since when? :unsure:

I've always told you all that. Since day one.  ;)