Nine has confirmed the sale of its weather information provider Weatherzone to US-based insights, analysis and decision-support solutions firm DTN.
Weatherzone is a commercial provider of meteorological services in Australia, and specialises in providing services to weather-dependent businesses such as aviation, mining and transportation.
Nine inherited its ownership of Weatherzone following the merger of Fairfax Media and Nine in December 2018.
The price in the transaction remains confidential and follows the recent sale of Nine's major sports events to endurance sports company The IRONMAN Group for $31 million.
Nine also recently shifted the management and ownership of its American Express Openair Cinemas, which it also acquired in the Fairfax merger, within the organisation, underneath the Pedestrian Group.
“We are pleased to have successfully completed a deal with DTN for the sale of Nine’s 75 per cent holding in Weatherzone. This is a mutually beneficial deal which sees us exiting a non-core business in order to focus on Nine’s portfolio of high-growth, digital, consumer-facing assets," Nine CEO Hugh Marks says.
“For the team at Weatherzone it aligns them with a leader in the insights space and allows them to continue to grow and expand their business.”
DTN, which is headquartered out of Minneapolis, says the acquisition underscores its commitment to bringing the most accurate and actionable insights to consumers and customers in weather-sensitive industries throughout the world.
“Today we are excited to bring Weatherzone to DTN and expand our business in Australia,” DTN CEO Steve Matthesen says.
“Weatherzone has a great team dedicated to serving consumers and clients with the best weather information and insights available. We look forward to working together, leveraging global technology to continue driving success for our customers.”
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