 | |
| Company type | Private |
|---|---|
| Industry | Information technology Weather forecasting |
| Founded | July 18, 1980 (as The Weather Channel) October 21, 2012 (as the Weather Company) |
| Headquarters | 1001 Summit Blvd NE, Brookhaven, , U.S.[1] |
Key people |
|
| Owner | Francisco Partners (2024–present) |
| Parent | Landmark Communications (1980–2008) NBCUniversal, Bain Capital, The Blackstone Group (2008–2016)
|
| Subsidiaries | Weather Underground WSI Corporation |
| Website | www |
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.[2] In February 2024, Francisco Partners completed the acquisition of The Weather Company, which operates as a standalone company.[3]
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.[4]
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.[2] 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.[5][6][7] In August 2023, IBM agreed to sell The Weather Company to private equity firm Francisco Partners for an undisclosed sum.[8]
In February 2024, Francisco Partners completed the acquisition of The Weather Company, which operates as a standalone company.[9]
See also
References
- ^ "The Weather Channel in Atlanta , GA". YP.com.
- ^ a b Press release (29 January 2016). "IBM Closes Deal to Acquire The Weather Company's Product and Technology Businesses". The Weather Company. Archived from the original on July 7, 2018. Retrieved 22 July 2016.
- ^ Francisco Partners, Francisco Partners (February 1, 2024). "Francisco Partners Completes Acquisition of The Weather Company". Francisco Partners. Retrieved February 15, 2024.
- ^ Stelter, Brian (2012-10-21). "Weather Channel's Parent Company Is Renamed". The New York Times. ISSN 0362-4331. Retrieved 2017-08-17.
- ^ Hardy, Quentin (28 October 2015). "IBM to Acquire the Weather Company". The New York Times. Retrieved 22 July 2016.
- ^ Cao, Jing (28 October 2015). "IBM Agrees to Acquire Weather Channel's Digital Assets". Bloomberg News. Retrieved 22 July 2016.
- ^ Littleton, Cynthia (28 October 2015). "Storms Are In, Reality Shows Out as Weather Channel Gets Back to Basics". Variety. Retrieved 22 July 2016.
- ^ Field, Hayden (August 22, 2023). "IBM selling The Weather Channel and the rest of its weather business". CNBC. Retrieved August 22, 2023.
- ^ Francisco Partners, Francisco Partners (February 1, 2024). "Francisco Partners Completes Acquisition of The Weather Company". Francisco Partners. Retrieved February 15, 2024.
External links
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This page was last edited on 26 March 2024, at 23:08