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

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Newspaper wrap-up: NBC Universal and consortium to acquire The Weather Channel
Jul 07, 2008 10:50 AM UTC

Laurie Pasternack

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Symbol	Sentiment	Start	Return	Closed
BX	n/a
GS	n/a
TTWO	n/a
GLG	n/a
C	n/a
ERTS	n/a
DB	n/a
GE	n/a

Via BloggingStocks:

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.

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