NBC Universal wants to live up to its moniker and become a
presence across the globe. The media conglomerate, which already
owns Spanish language broadcast company Telemundo Communications Group Inc.,
has agreed to acquire Sparrowhawk Media, which owns the international
operations of the Hallmark Channel, for around $350 million on Aug. 28.
Hallmark specializes in family-oriented programming,
rebroadcasting shows such as "Little House on the Prairie" and "M*A*S*H" as
well as its own original movies such as "A Grandpa for Christmas." Hallmark's
overseas operations broadcasts to around 150 countries. Sparrowhawk acquired
the international operations of Hallmark for about $242 million in 2005.
NBC made a major push to diversifying its assets in the U.S.
and overseas with its buy of Telemundo in October 2001 for $1.98 billion. The
No. 2 Spanish-language programmer in the U.S. also distributes its broadcast
content, which includes its widely popular telenovelas (Spanish soap operas)
to Latin America. —Gerald Magpily
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TheDeal: NBC Universal buys Sparrowhawk
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Reuters story
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The Deal: NBC buys Telemundo for $1.98B
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m&a,
media,
NBC Universal,
Sparrowhawk Media,
Hallmark Channel
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