NBC Universal acquires controlling stake in MSNBC from Microsoft

Iria · Dec 23, 2005, 10:21 PM

New York (NY) - In a long anticipated move, NBC Universal today announced it has purchased an extra 32% stake in MSNBC, giving it an 82% controlling interest in the television division of the news-gathering operation. MSNBC was established in 1996 as a joint 50/50 venture between Microsoft and NBC, which was then a unit of General Electric.

"The ending of the 50/50 partnership with Microsoft will give us more flexibility to continue the progress we've made," said recently appointed NBC News president Steve Capus, and MSNBC president Rick Kaplan, in a joint memo to employees of both divisions this morning. Microsoft and NBC Universal will continue to split their share of MSNBC.com, the Internet division of the news gathering operation, 50/50, according to the memo. Editorial employees were also promised they would keep their positions, as only the management and business operations of the cable news division would change.

Giving a hint as to what's to come, Capus said in a press release this afternoon, "Acquiring a controlling interest in MSNBC will allow us to fully integrate the channel into our News operations and our overall cable platform." Speculation, some of which is apparently justified by hard evidence, points to the likelihood that the TV network will be renamed "NBC News Channel" sometime in 2006. That brand is currently in use today, having been launched as a joint venture between NBC TV affiliates to produce an overnight news program called "Nightside" in 1991. Since the program's cancellation in 1997, the joint venture continues to serve NBC affiliates with syndicated news packages.

But even so, GE has continually re-registered the domain name "nbcnewschannel.com," according to a recent scan of WHOIS records. Currently, the name redirects users to NBC.com.
__________
Read More / Source: TG Daily

Dec 23, 2005, 10:21 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 87	NBC Universal acquires controlling stake in MSNBC from Microsoft New York (NY) - In a long anticipated move, NBC Universal today announced it has purchased an extra 32% stake in MSNBC, giving it an 82% controlling interest in the television division of the news-gathering operation. MSNBC was established in 1996 as a joint 50/50 venture between Microsoft and NBC, which was then a unit of General Electric. "The ending of the 50/50 partnership with Microsoft will give us more flexibility to continue the progress we've made," said recently appointed NBC News president Steve Capus, and MSNBC president Rick Kaplan, in a joint memo to employees of both divisions this morning. Microsoft and NBC Universal will continue to split their share of MSNBC.com, the Internet division of the news gathering operation, 50/50, according to the memo. Editorial employees were also promised they would keep their positions, as only the management and business operations of the cable news division would change. Giving a hint as to what's to come, Capus said in a press release this afternoon, "Acquiring a controlling interest in MSNBC will allow us to fully integrate the channel into our News operations and our overall cable platform." Speculation, some of which is apparently justified by hard evidence, points to the likelihood that the TV network will be renamed "NBC News Channel" sometime in 2006. That brand is currently in use today, having been launched as a joint venture between NBC TV affiliates to produce an overnight news program called "Nightside" in 1991. Since the program's cancellation in 1997, the joint venture continues to serve NBC affiliates with syndicated news packages. But even so, GE has continually re-registered the domain name "nbcnewschannel.com," according to a recent scan of WHOIS records. Currently, the name redirects users to NBC.com. __________ Read More / Source: TG Daily