NBC Universal and two other partners agreed to purchase the weather channel The Weather Channel owned so far by Landmark Communications for an estimated amount of US$ 3.5 Million.
The business includes different areas of the channel like The Weather Channel Networks, The Weather Channel Interactive and The Weather Services Interactive.
The Weather Channel located in Atlanta it will function as a separate entity under the management of NBC Universal.
NBC joined forces with the firms private Bain Capital and The Blackstone Group to realize this business after having been against major media companies such as Time Warner Inc.
The Weather Channel was one of the last major channels with a small, independent group of owners. Landmark Communications, based in Norfolk, Virginia, revealed its intention to sell the property in January.
Deutsche Bank Securities Inc, GE Commercial Finance, GSO Capital Partners and Sankaty Advisors LLC were the companies that provided the financial support to complete the operation.
HD Broadcasts
Likewise, The Weather Channel announced its new HD service that cost approximately US$50 millions and involved the migration of the entire production system and post-production to this system.
The project also included the construction of a new 1,100-square-foot studio in its Atlanta headquarters, equipped with high-definition cameras and other equipment, as well as the conversion of the graphics system.
According to spokespeople of the channel, the biggest challenge was to redo the entire graphics system for HDTV while continue to view content is 4x3 SDTV screens.
