Fairfield-based General Electric Co.’s NBC Universal, in partnership with the Blackstone Group, is a leading contender to buy the Weather Channel, a source told Reuters today.
Time Warner is also in the running, according to a second source.
The bids are expected to be between $3 billion and $4 billion, and the winning bid is likely to be on the high end of that range. The deadline for bids was moved from May 8 to May 23. A decision could be made as early as next week.
Landmark Communications, which is privately held, has put the channel up for sale along with other properties. It had originally sought $5 billion for the asset.Â
