NBC Universal to Acquire Oxygen Media

NEW YORK, October 9: NBC
Universal will acquire the female-focused U.S. cable network Oxygen Media for
$925 million.

Excluding financial
assets, the purchase price is approximately $875 million. Upon completion of
the transaction, Oxygen will be merged into NBC Universal's Entertainment Cable
division, which is managed by Jeff Gaspin, the president and COO of Universal
Television Group.

The Oxygen purchase will
be substantially self-funded through the sale of non-core assets. NBC Universal
is selling its two independent Telemundo television stations: KWHY in Los
Angeles, one of its two Spanish-language stations in that city, and WKAQ in
Puerto Rico.

Oxygen, which is available
in more than 74 million homes, has been registering significant growth in both
ad sales and viewership, with the just-completed third quarter being the
most-watched in the history of the network. Launched in 2000, Oxygen is the
only fully distributed entertainment cable channel launched in the last decade.
Oxygen was founded by current chairman and CEO Geraldine Laybourne along with
talk show host Oprah Winfrey and television producers Marcy Carsey, Tom Werner
and Caryn Mandabach.

Jeff Zucker, the president
and CEO of NBC Universal, said: "In just seven short years, Oxygen has
become the crown jewel of independent networks. It's a terrific property with a
clear mission, strong brand, and desirable audience. This acquisition increases
our foothold in the advertiser-coveted young, upscale, female demographic, and
perfectly complements our current roster of cable channels and plays to our
strength of running and operating cable networks."

The transaction is
expected to close in November, following the receipt of customary regulatory
approvals.