Weather Channel's profitability is behind sale, says Landmark executive

VIRGINIA BEACH

The profitability of The Weather Channel is propelling the potential sale of Landmark Communications Inc., a Virginian-Pilot executive said Thursday.

The Weather Channel, based in Atlanta, and associated weather businesses are "driving the Landmark sale much more so than The Pilot," said Maurice Jones, the vice president and general manager of the newspaper.

A Landmark official and analysts have suggested the potential value of The Weather Channel and Landmark's other weather properties, including Weather.com, at $5 billion. Jones noted that The New York Times last week quoted a potential buyer comparing The Weather Channel to "beachfront property."

"People concluded it was the right time in the market to sell The Weather Channel," Jones said.

The channel reaches more than 96 million households.

Landmark, a Norfolk media company that owns dozens of other properties, announced last week that it was evaluating whether to sell all of its assets.

Jones spoke at a luncheon at Regent University sponsored by the Hampton Roads chapter of the American Marketing Association, and his comments were the most detailed yet to explain Landmark's decision.

Frank Batten Jr., Landmark's chairman and chief executive officer, declined last week to discuss the reason for the potential sale. Batten, however, said Landmark's weather-related properties account for the biggest share of its profits.

In his 35-minute talk, which had been scheduled before the Landmark announcement, Jones offering an optimistic take on the future of newspapers.

He did not mention the potential sale until he was asked about it during the question-and-answer period.

Philip Walzer, (757) 222-3864, phil.walzer@pilotonline.com