For Immediate Release
January 3, 2008
Landmark Communications, Inc. announced today that it has retained investment banks J.P. Morgan and Lehman Brothers to assist in exploring strategic alternatives, including the possible sale of the company's businesses.
In making the announcement, Landmark Chairman and CEO Frank Batten, Jr. said, "At this early stage, we cannot speculate on where this process will lead. We will consider various options and, at the end, we will advise employees and customers of our conclusions."
"Landmark's weather, publishing, broadcasting, interactive and information businesses all have leading positions in their markets and have strong growth opportunities," Batten said. "As we go through this process, we will continue to invest in these operations."
Based in Norfolk, VA, Landmark is a privately-held diversified media and business services company with interests in cable programming, newspapers, broadcasting, specialty classified advertising products, interactive marketing, information, broadband and data services.
For further information contact:
Richard Barry Landmark Communications, Inc. 757-446-2003 firstname.lastname@example.org
About The Weather Channel Companies
The Weather Channel companies (TWCC) are made up of The Weather Channel® 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®, 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 32 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 www.weather.com/press.