Landmark confirms may sell Weather Channel, assets
NEW YORK (Reuters) - Landmark Communications Inc., which owns The Weather Channel, said on Thursday it hired two investment banks and would explore strategic options, including a possible sale.
The privately held company said in a statement that it had retained J.P. Morgan and Lehman Brothers to assist in the process.
"At this early stage, we cannot speculate on where this process will lead," Landmark Chief Executive Frank Batten Jr. said in a statement, confirming earlier media reports of a possible sale.
In addition to The Weather Channel, Landmark's holdings include newspapers The Virginian-Pilot in Norfolk, The News & Record of Greensboro, N.C., and The Roanoke Times in Virginia.
(Reporting by Paul Thomasch; Editing by Derek Caney)
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