(Reuters) – Privately held Landmark Communications Inc, which owns the Weather Channel, has asked bidders for the cable network to submit another round of bids by Friday, the Wall Street Journal (WSJ) said, citing people familiar with the situation.
A consortium of General Electric Co's (GE.N: Quote, Profile, Research) NBC Universal and private equity firms Blackstone Group LP (BX.N: Quote, Profile, Research) and Bain Capital as well as Time Warner Inc (TWX.N: Quote, Profile, Research) are bidding, sources told Reuters last week.
Landmark, NBC Universal and Time Warner did not immediately return calls seeking comment.
Weather Channel's broadcasts and programming about hot-button issues on the environment have proven attractive to audiences and advertisers. The network has more than 96 million U.S. subscribers and can be seen in more than 97 percent of all cable TV homes nationwide.
(Reporting by Tenzin Pema; Editing by Louise Ireland)