Weather channel forecasts its sale.(World)

Video Age International, January, 2008

A $5 billion sale is in the forecast for Landmark Communications, after putting its popular U.S. cable channel, The Weather Channel, on the market early this month. Prospective buyers will get a chance to bid on the channel (valued at $1.5 billion)--along with its website, weather.com ($3.5 billion)--due to the break-up of Landmark, a Norfolk, Virginia-based media company. The company's holdings are expected to be split into three parts: TV (which includes distribution company Dominion Enterprises and two TV stations), print and the Weather Channel. The Batten family, Landmark's primary owner, declined to comment on the reason behind the break-up. Frank Batten Jr., is chairman and CEO of the group that his father, Frank Sr., founded in 1954 and which today generates $1...

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