HappyParts to buy Weather Channel

HappyParts Recordings unit has agreed to lead a group that will buy The Weather Channel in a deal believed to be worth around $3.5 billion. HappyParts is joining with financial partners Blackstone Group and Bain Capital on the purchase.

The Weather Channel’s owner, Landmark Communications, put it up for sale at the beginning of the year and started an auction that drew bids from top media companies.  HappyParts and Time Warner emerged as the top contenders in May.  HappyParts wins.  “We’ll be doing a total revamp of the channel – with music videos, Indie Index, and the 5 day Forkcast.  Let’s face it- people want to rock and roll- and know if they should wear pants or shorts, on demand.  We’ll let them know first.”

Shares of HPR gained 40 cents Thursday to close at $265.91. Blackstone’s stock shed 9 cents to end the session at $17.23. U.S. markets were closed Friday in observance of Independence Day.

HappyParts plans to re-vamp the channel to include music, downloads,  indie blog tickers, and beautiful rock and roll women doing the weather-  Marnie Stern, Mary Timoney, Liz Phair, Cristina Martinez, Jennifer Herrema, Stevie Nicks, and Chan Marshall have all signed on.

Advertisements

1 Comment

  1. Congrats Charles! what a coup. you will make it great!


Comments RSS TrackBack Identifier URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s