THE WEATHER CHANNEL INTERACTIVE FORMS GROUP TO SEEK OUT ACQUISITIONS

ATLANTA– The Weather Channel Interactive (TWCi) announced the formation of a new ventures group that will look for acquisitions and new business opportunities for TWCi. Steve Hassett, formerly CEO of iTendant, has been hired to lead the group.

The TWCi new ventures group is seeking opportunities for expansion through acquisition of companies which will complement the core assets of TWCi, ideally any natural extensions of weather.com. Targets could include but will not be limited to travel, vacations, health, recreation, playing and watching sports, traffic and other local content and green living.

TWCi will be targeting profitable or nearly profitable companies with revenue of $1- $50M+ and scalable. The transaction would be an acquisition, not investment and preferably would have a strong management team that is willing to commit one to two or more years. In addition to weather.com, TWCi currently operates two complementary sites; forGetaway.com, a vacation home rental site and OneDegree, a site dedicated to the discussion of climate change.

Prior to joining TWCI, Mr. Hassett was CEO and co-founder of iTendant, a leading provider of web and wireless guest and tenant service solutions for hotels, office buildings and corporate facilities. iTendant was founded in 2000 and acquired by Servidyne, Inc. in April 2004. Previously, Mr. Hassett was with Stern Stewart & Co., a management consulting firm specializing in value-based management and held various corporate development positions with Oldcastle, Inc. the U.S subsidiary of CRH plc, a Global 500 manufacturer of building materials and Watson Wyatt. Mr. Hassett earned an MBA from the Darden Graduate School of Business Administration at the University of Virginia and a B.S. in management systems from Rensselaer Polytechnic Institute.


About The Weather Channel Interactive
The Weather Channel Interactive (TWCi) is the leading provider of broadband and wireless weather products including weather.com, Desktop Weather by The Weather Channel, and The Weather Channel Mobile. weather.com, the Web site of The Weather Channel, is the ultimate source of weather on the Web, helping users plan their lives by delivering timely current conditions, expert forecasts and relevant lifestyle content for 98,000 locations worldwide. weather.com reaches more than 30 million unique users each month, is the most popular source of online weather, news and information and is the most trusted source of online weather information according to Nielsen//NetRatings. TWCi provides consumers with unique and customizable products such as Desktop Weather and a full lineup of mobile services including downloads, messaging, mobile Web, and mobile video. Other TWCi sites include forGetaway.com, a vacation home rental site and OneDegree, a site dedicated to the discussion of climate change.