GE (NYSE: GE) might be selling off its flagship appliance division, but it appears the company is chomping at the bit to expand its media and entertainment investments. Today, news broke that NBC Universal (of which GE owns 80%, Vivendi owns the other 20%) has sealed the deal to purchase The Weather Channel from Landmark Communications in a deal worth $3.5 billion and backed by two private equity firms, Bain Capital and The Blackstone Group.
The deal will give NBC control of both The Weather Channel and Weather.com. According to a New York Times article today, NBC Universal's chief executive said, "This deal makes us the pre-eminent leader in news and information. We’re number one in business news, number one in general broadcast news, and now we’re number one in weather news too."
What do you think of this acquisition? Any chance the weather forecasts will be more accurate? I think that's the burning question on consumers' minds.
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