Sparrowhawk acquisition to bring Moby Dick, Gulliver''s Travels to NBC Universal fold

30 August 2007

US media group NBC Universal, which includes television brands CNBC, Sci-Fi Channel, 13th Street and the Universal Channel, has announced a deal to acquire Sparrowhawk Media Group for an undisclosed sum, that reports suggest could be around $350 million.

NBC is the biggest supplier of programming content to Sparrowhawk

General Electric Co owns 80 per cent and Vivendi SA the remainder in NBC Universal, which was formed in May 2004 when NBC acquired the French media group Vivendi Universal Entertainment.

The completion of the acquisition will enable NBC Universal to run a global network of more than 30 channels, which it said it hoped to increase to over 50 in the two to three years.

The deal also brings to the NBC Universal fold Movies 24, KidsCo and Diva TV, a top 10 rated pay-TV channel that carries programmes produced by NBC Universal, a broadcast studio in Denver, and global distribution rights to a library of more than 580 titles.

Jeff Zucker, CEO, NBC Universal called the deal "a perfect strategic investment" for NBC Universal, in a statement. "It is another step, among several we will take in the next year, to transform our entire portfolio, with an eye toward high-growth areas," Zucker said. "The Hallmark Channels'' geographic breadth is of particular importance to us, as it will bolster our position in existing markets and boost our growth in Asia and Central and Eastern Europe."