The Weather Channel Companies Acquire Weather Underground
ATLANTA & SAN FRANCISCO, Jul 02, 2012 (BUSINESS WIRE) — The Weather Channel Companies (TWCC) today announced an agreement to acquire Weather Underground, a leading provider of Web based weather data. The transaction, terms of which were not disclosed, was announced by TWCC chairman and CEO David Kenny and Weather Underground president Alan Steremberg and is expected to close in several weeks.
“Everyone in the weather space is familiar with the strength of Weather Underground and its innovative method of presenting weather data. Weather Underground will add a great complementary, brand to our portfolio, a brand with a distinct, loyal, and active user base that will enable us to reach a unique segment of users,” said Kenny. “Most importantly, this acquisition will grow the weather expertise that is central to everything we do and will result in better forecasts and weather data for users on all of our platforms.”
“Becoming a part of The Weather Channel Companies will enable us to strengthen what our users love about wunderground.com, our apps and our blogs,” said Steremberg. “We see this as a great opportunity to grow.”
Weather Underground’s popular site wunderground.com and its portfolio of mobile applications will continue to operate and its employees will become a part of TWCC, furthering the company’s place as the leading provider of the most accurate weather data across all platforms serving consumers and business users. In addition, Weather Underground’s San Francisco headquarters will become a regional office for TWCC. Blackstone Advisory Partners L.P. served as TWCC’s financial advisor in the transaction and Kilpatrick Townsend & Stockton LLP acted as legal advisor. Weather Underground was advised by Digital Capital Advisors, LLC.
About The Weather Channel Companies
The Weather Channel companies (TWCC) are made up of The Weather Channel(R) television network, The Weather Channel digital properties, and WSI. The Weather Channel is based in Atlanta and is seen in more than 100 million U.S. households. TWCC also operates Weatherscan(R), a 24-hour all-local weather network; The Weather Channel Radio Network; and The Weather Channel HD. The most popular source of weather news and information, TWCC properties reach 60 million monthly Web consumers (weather.com and Desktop) and 30 million monthly mobile users (mobile Web and applications) and offers the second most popular mobile app on all smartphones. WSI, headquartered in Andover, MA, primarily provides business-to-business weather services, particularly for the media, aviation, marine and energy sectors. TWCC is owned by a consortium made up of NBC Universal and the private equity firms The Blackstone Group and Bain Capital. For more information, visit http://www.weather.com/press .
About Weather Underground
The world’s first online weather service, Weather Underground is committed to delivering the most comprehensive, reliable weather information possible. In addition to serving free weather data to millions of unique users every day on its website wunderground.com and across other digital platforms, Weather Underground delivers custom-designed weather solutions to an array of businesses and media partners such as Google, The Associated Press and CBS. The company’s state-of-the-art technology monitors conditions and forecasts for locations across the world. With more than 24,000 users contributing local observations from personal weather stations, Weather Underground is able to provide up-to-the-minute weather conditions and forecasts for the most finely targeted areas.
SOURCE: The Weather Channel Companies
Between Jeff Masters and Weather Channel views on AGW, I expect on-air temperatures to rise and viewership to fall.
h/t Joe D’Aleo