Bids due for Weather Channel

Preliminary bids are due next week to purchase the cable network Weather Channel and owner Landmark Communications is looking for as much as $5 billion to make the sale, according to reports from the Los Angeles Times.

General Electric Co.'s NBC Universal, Time Warner Inc., CBS Corp. and Comcast Corp. have all expressed interest in the network.
Landmark said in January that it was exploring options for its publishing and television businesses, hiring JPMorgan and Lehman Bros. to look at its alternatives.
Analysts have said the Weather Channel would be the most prized asset in a sale.For the full story click here.