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Newspaper wrap-up: NBC Universal and consortium to acquire The Weather Channel

Posted Jul 7th 2008 10:50AM by Laurie Pasternack
Filed under: Newspapers, Magazines, General Electric (GE), Citigroup Inc. (C), Goldman Sachs Group (GS), Electronic Arts (ERTS), Blackstone Group L.P (BX)

MAJOR PAPERS:

The Financial Times reported that Bain Capital, The Blackstone Group LP (NYSE: BX) and General Electric Company's (NYSE: GE) NBC universal will acquire The Weather Channel properties from Landmark Communications for approximately $3.2B in a leveraged buy-out. The Weather Channel will be run separately.
A top Goldman Sachs Group Inc (NYSE: GS) trader is defecting to GLG Partners Inc (NYSE: GLG), the UK's second-largest hedge fund. Goldman's Driss Ben-Brahim, a partner in the firm and the head of its emerging market trading business, will take over GLG's $1.2B emerging markets special situations fund, the Financial Times reported.

OTHER PAPERS:

Take-Two Interactive Software Inc (NASDAQ: TTWO), which makes video games, will probably sign video game creator Ken Levine to a new contract. The deal would bolster Take Two's argument that its value exceeds the $25.74 per share that Electronic Arts Inc (NASDAQ: ERTS) has offered as a takeover price for the company, The New York Post believes.

WEB SITES:

Reuters reported that Deutsche Bank AG (NYSE: DB) is the only bidder remaining for Citigroup Incorporated's (NYSE: C) German retail operations. Sources said Commerzbank AG (OTC: CRZBY) dropped out of the running on Friday.

Tags: acquisition, Bain Capital, BainCapital, Blackstone, Blackstone Group, BlackstoneGroup, BX, C, Citigroup, Commerzbank, CRZBY, DB, Deutsche Bank, DeutscheBank, Driss Ben-Brahim, DrissBen-brahim, Electronic Arts, ElectronicArts, ERTS, GE, General Electric, GeneralElectric, GLG, GLG Partners, GlgPartners, Goldman Sachs, GoldmanSachs, GS, Ken Levine, KenLevine, NBC Universal, NbcUniversal, Take Two Interactive, TakeTwoInteractive, The Weather Channel, TheWeatherChannel, TTWO

Indexes	Change	Price
DJIA	+6.51	12,890.46
NASDAQ	+11.37	2,927.23
S&P 500	+1.99	1,351.95

Last updated: February 10, 2012: 04:55 AM

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