NBCU Completes Acquisition of Oxygen Media

NEW
YORK, November 21: NBC Universal (NBCU) has finalized its acquisition of the
female-focused U.S. cable network Oxygen Media for approximately $875 million
net of financial assets.

Bravo
Media’s president, Lauren Zalaznick, has been appointed to oversee Oxygen
Media, in an extension of her current responsibilities. She will continue to
report to Jeff Gaspin, the president and COO of Universal Television Group, as
well as serve as chair of NBCU’s Green Council.

Lisa
Gersh will remain in her current position as the president and COO of Oxygen
Media through a three-month transition period before taking on a new leadership
role at NBCU. Debby Beece, Oxygen’s president of programming and marketing, has
resigned and will not be making the switch.

The
transaction places Oxygen within the NBC Universal Cable group, helmed by
Gaspin. Along with CNBC and MSNBC, NBCU's cable entertainment networks account
for 50 percent of the company's profits and are experiencing double-digit,
year-over-year growth. Furthermore, the acquisition by NBCU strengthens the
company’s reach with female-skewing media properties, with the current roster
including Bravo, NBC’s Today show
and iVillage, an online site for women.

Under
Zalaznick's watch, Bravo has achieved record ratings, recently completing the
highest-rated quarter in its history among adults 18-to-49 and total viewers.
Zalaznick oversaw the launch of Bravo's suite of digital and broadband
services, including BravoTV.com, OutZoneTV.com, and the recently acquired
TelevisionWithoutPity.com. During her tenure, Bravo has received 23 Emmy
nominations, winning four Emmy Awards in 2007.

In
making the announcement, Jeff Zucker, NBCU’s president and CEO, commented: "We
are thrilled to add Oxygen Media to our roster of high-growth cable networks.
Geraldine Laybourne and her team have built an exciting and dynamic brand with
a great deal of potential, both domestically and internationally. We look
forward to having Oxygen play a key role in the ongoing growth of our cable
entertainment business."

—By
Kristin Brzoznowski