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Climate change for Weather Channel sale


May 26, 2008 Privately held Landmark Communications likely will have to lower its expectations for the Weather Channel, with Time Warner and the team of NBC Universal and private-equity firm Blackstone Group looking like the only suitors remaining as second round bids were due Friday. However, sources said that CBS Corp., News Corp., Liberty Media, Viacom and Comcast were not planning to submit bids, even though some had been looking at the channel. Sources said the high asking price for the Weather Channel, a lack of synergy and different corporate priorities had caused the field of suitors to thin out since a first round of bidding in March.

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