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NBC Looks To Buy Sparrowhawk

CNBC, Tuesday, August 28, 2007 11 AM

NBC Universal is expected to announce a $350 million pact to acquire Sparrowhawk Media, a British private-equity firm that owns the international operations of the Hallmark Channel. While neither Sparrowhawk nor NBC Universal is talking publicly, insiders say talks are at an advanced stage.

Sparrowhawk bought the business for $242 million in April 2005, and has since added new brands, including a made-for-TV movie service and joint venture KidsCo, a partnership set to launch in Poland, Hungary, Romania, Turkey and Ukraine next month.

KidsCo will be the first kids' channel in NBCU's international portfolio. The acquisition is a natural for NBCU CEO Jeff Zucker, who has made international expansion a big priority.

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