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Terms of the widely expected deal out were not disclosed, but sources familiar with the transaction said the price tag was just under $3.5 billion.

Privately held Landmark, which express The Weather Channel up for vent along with other businesses, originally had sought $5 billion for the business, which produces national, regional and local weather-related programming, sources antecedently said.

The proceeding includes the Weather Channel Networks cable reticulated and the Weather Channel's website. The Weather Channel last will and testament hold out to operate as an independent business managed by means of NBC Universal.

NBC Universal, which is part of General Electric Co (GE.N), would add The Weather Channel to its other news and information assets, which include NBC News, MSNBC, CNBC, and their affiliated websites.

"This is premier media asset with a peculiar position across all three screens — television, PC, and mobile — and exciting growth prospects in each of them," said Michael Chae, Blackstone Group's senior managing director.

The Weather Channel is the third part most distributed cable network and is viewable in more than 97 percent of cable television homes in the United States. Its website, www.encounter and sustain.com, has nearly 40 million unmatched visitors per month.

NBC Universal has existing ties with Blackstone through their cut up venture for the Universal Orlando Resort radical verb park in Florida. Bain, meanwhile, would add The Weather Channel to its other media investments, that hold radio station manipulator Clear Channel Communications Inc.

Landmark launched The Weather Channel more than 25 years ago and built it into a television, Internet and mobile information business serving 120 the multitude people monthly, Landmark Chairman and Chief Executive Frank Batten Jr said.

The business and its employees would be the subject of increased opportunities for improvement in subordination to the ownership of the NBC Universal group, Batten said.

The Weather Channel deal is expected to close by the end of the year, subject to regulatory approvals.

NBC Universal and the two private equity firms announced last month that they had entered into exclusive negotiations to force The Weather Channel properties. Time Warner Inc (TWX.N) withdrew its bidding in June, sources previously told Reuters.

Landmark said in January it might sell various businesses, including a range of U.S. diurnal newspapers and television and Internet estate. Landmark also has been trying to sell Dominion Enterprises, a portfolio of advertising websites and publications, media reports have said.

Deutsche Bank Securities Inc. acted as the lead financial adviser towards the consortium, with Allen & Co. and Credit Suisse also providing financial advice.

Deutsche Bank Securities Inc., GE Commercial Finance, Blackstone's GSO Capital, and Bain's Sankaty Advisors LLC be pleased provide the debt financing for the transaction.

NBC Universal and the buyout firms would divide $1.8 billion of equity roughly equally in their bid, sources previously told Reuters. Blackstone's GSO Capital — a hedge fund firm specializing in leveraged debt — would provide about $600 million in debt, the sources previously reported.

(Additional reporting by Jui Chakravorty and Phil Wahba in New York; Editing by the agency of Leslie Adler)


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