• The Hollywood Reporter, Friday, August 22, 2008 9:30 AM

NBC Universal took another step in its international expansion this week, buying the U.K.'s Carnival Film & Television, producer of glossy dramas like "Hotel Babylon." The deal was worth about $56 million.

The move is the first acquisition by NBC's London division and fits with NBCU's goal to more than double non-U.S. revenue by 2010.

The deal gives the network a U.K. production headquarters and access to inexpensive overseas locations and the British acting pool. "Getting high production value with less cost is absolutely an aspect of the acquisition," says NBC executive Angela Bromstad.

Read the whole story at The Hollywood Reporter »