In a deal that will take the online advertising company CoolSavings private, Landmark Communications, parent company of The Weather Channel and
The Virginian-Pilot newspaper, is buying out two
CoolSavings stockholders--Richard Rogel and Hugh Lamle--for $16.7 million. Landmark, which was previously CoolSavings' largest stockholder, will own more than 90 percent of each class of outstanding
stock after the deal closes, and will then take the company private.
-- Wendy Davis