NBC yesterday reached an agreement for the acquisition of 100% of the equity of Telemundo Communications Group, Inc. Under the agreement, Telemundo's extensive broadcast and cable properties will be
brought into NBC, making NBC the only major broadcast network with a business fully devoted to developing and airing programming specifically created for the Spanish-speaking market. Hispanics are the
nation's fastest-growing segment of the population and are expected soon to be the largest minority group, representing one of the most attractive opportunities for dynamic growth in the television
marketplace. The Telemundo network currently reaches 88% of Hispanic TV households in the United States. The transaction values the equity at $1.98 billion, payable half in cash and half in GE stock.
