NBC U and its venture capital consortium appear very close to announcing they've closed a deal for Weather Channel, Reuters reports. The deal is expected to come in close to $3.5 billion and will include $1.8 billion in equity and debt from Blackstone Group LP and Bain Capital.
Due to the multiple partners involved, it's a complex negotiation spearheaded by NBC U head dealmaker (and former ABC/Disney exec) Salil Mehta. But if NBC U can seal it, the company instantly becomes a top player on the Web, with 51.2 million unduplicated unique visitors. Weather.com alone had 38 million unique visitors in May, according to Nielsen Online.
See Also:
NBC U + Weather Channel = Top 10 Web Company
Back To The Future: News Corp. Launches A Weather Site
Time Warner Pulls Out Of Weather Channel Bidding
NBC U Bidding $3.5 Billion For Weather Channel
