With weather a hot subject because of global warming and weather volatility, Landmark Communications has put the Weather Channel up for sale .
I love this part…
The sale of the Weather Channel, these people said, is part of a larger breakup of its parent, Landmark Communications, a privately held company controlled by the Batten family of Norfolk, Va., which also owns daily newspapers and other media properties. Landmark’s newspaper holdings include The Virginian-Pilot in Norfolk, The News & Record of Greensboro, N.C., and The Roanoke Times in Virginia, as well as 50 other community newspapers . The company, which does not release its earnings, generated $1.75 billion in revenue in 2006 and has 12,000 employees, according to Hoover’s.
They are selling their best asset to pay for the remaining shitty ones that will never ‘bounce’.
Investing 101 mistake.
No doubt that the Weather Channel and weather.com are not outstanding assets though.