Sunday, NBC Universal, a General Electric (NYSE:GE) owned company, and buyout firms Bain Capitol, and Blackstone Group (NYSE:BX) said they signed an agreement to purchase the Weather Channel properties from Landmark Communications. This acquisition comes after Time Warner Inc. withdrew its bid for The Weather Channel last month, because of pricing issues. NBC Universal said The Weather Channel will be operated as a separate entity, with management services to be provided by the network itself. Shares of General Electric Co. were up 47 cents to $27.38 in morning trading.

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