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The Weather Company
Weather forecasting and information technology company
Weather forecasting and information technology company
| Field | Value |
|---|---|
| name | The Weather Company LLC |
| logo | The Weather Company logo.svg |
| type | Private |
| industry | Information technology |
| Weather forecasting | |
| founded | (as The Weather Channel) |
| (as the Weather Company) | |
| hq_location | 1001 Summit Blvd NE, Brookhaven |
| hq_location_city | Atlanta, Georgia |
| hq_location_country | U.S. |
| key_people | |
| subsid | Weather Underground |
| WSI Corporation | |
| website | |
| owner | Francisco Partners (2024–present) |
| parent | Landmark Communications (1980–2008) |
| NBCUniversal, Bain Capital, The Blackstone Group (2008–2016) |
Weather forecasting
(as the Weather Company) WSI Corporation NBCUniversal, Bain Capital, The Blackstone Group (2008–2016) The Weather Company LLC is a weather forecasting and information technology company that owns and operates weather.com (the website for the Weather Channel), and Weather Underground. From 2016 to 2023, the Weather Company was a subsidiary of the Watson & Cloud Platform business unit of IBM. In February 2024, the private equity firm Francisco Partners completed the acquisition of the Weather Company, which operates as a standalone company.
History and operations
The Weather Company started as the Weather Channel in 1980, and launched two years later. In 2012, the company created a broader holding company and replaced the word "Channel" with "Company" to better reflect their growing lineup of digital products. The company acquired its competitor Weather Underground the same year.
The Weather Company was previously owned by a consortium made up of the Blackstone Group, Bain Capital, and NBCUniversal. That consortium sold the Weather Company's product and technology assets to IBM on January 29, 2016, but retained possession of the Weather Channel cable network until March 2018, when it was sold to Entertainment Studios. As part of the 2016 spin-off, the consortium entered into a long-term licensing agreement with IBM for use of its weather data and "The Weather Channel" name and branding. In August 2023, IBM agreed to sell the Weather Company to private equity firm Francisco Partners for an undisclosed sum.
In February 2024, Francisco Partners completed the acquisition of the Weather Company, which operates as a standalone company. The cost was disclosed as $1.1 billion, with $750 million in cash, $100 million deferred over seven years, and $250 million in contingent consideration.
References
References
- "The Weather Channel in Atlanta, GA".
- (12 November 2024). "Exclusive: The Weather Company names new CEO, CFO".
- Press release. (29 January 2016). "IBM Closes Deal to Acquire The Weather Company's Product and Technology Businesses". The Weather Company.
- Francisco Partners, Francisco Partners. (February 1, 2024). "Francisco Partners Completes Acquisition of The Weather Company".
- Stelter, Brian. (2012-10-21). "Weather Channel's Parent Company Is Renamed". The New York Times.
- (3 July 2012). "Weather Channel Acquires Weather Underground".
- Hardy, Quentin. (28 October 2015). "IBM to Acquire the Weather Company". [[The New York Times]].
- Cao, Jing. (28 October 2015). "IBM Agrees to Acquire Weather Channel's Digital Assets". [[Bloomberg News]].
- Littleton, Cynthia. (28 October 2015). "Storms Are In, Reality Shows Out as Weather Channel Gets Back to Basics". [[Variety (magazine).
- Field, Hayden. (August 22, 2023). "IBM selling The Weather Channel and the rest of its weather business".
- "FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2024, INTERNATIONAL BUSINESS MACHINES CORPORATION".
This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.
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