UK Media Co. Sells Weather Biz For $261M To General Atlantic

Law360, New York (December 16, 2013, 2:13 PM EST) -- PA Group, the owner of the U.K.'s Press Association, has agreed to sell MeteoGroup, its weather business, to private equity firm General Atlantic for €190 million (US$261 million), the company and other principal shareholders said Monday.

Divesting the quickly growing weather service will allow the U.K.-based PA Group to reduce its pension debt and invest in new media holdings, according to the company. Trinity Mirror Plc, which currently owns 21.5 percent of MeteoGroup, said that it and PA will realize £125 million (US$204 million) in profit...
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