NBC Universal a top Weather Channel bidder: source

By Jui Chakravorty Das

NEW YORK (Reuters) - A joint NBC Universal-Blackstone Group LP partnership is a leading contender to buy the Weather Channel cable network, a source familiar with the matter said on Friday.

Time Warner Inc (TWX.N) is also in the running, another source familiar with the matter said.

The bids are expected to come in between $3 billion and $4 billion, the sources said, with the winning bid closer to the midpoint of that range. The deadline for bids was moved to Friday from May 8, one source said, adding that a decision could be made as early as next week.

Privately held Landmark Communications, which put the channel up for sale along with other businesses, had originally sought $5 billion for the asset, sources have said.

Weather Channel's time-sensitive broadcasts and programming about hot-button issues on the environment have proven to be attractive to audiences and advertisers, analysts say.

The network produces national, regional and local weather-related programs and has more than 96 million U.S. subscribers. It can be seen in more than 97 percent of all cable TV homes nationwide.

Along with NBC, CBS Corp (CBS.N) was expected to be a top contender, but another source familiar with the auction said such a bid appeared increasingly unlikely. CBS last week acquired web media company CNET for $1.8 billion.

Landmark, CBS and Time Warner declined comment on Friday. NBC Universal was not immediately available for comment.