NBC captures Sparrowhawk
US broadcasting and production powerhouse NBC Universal has confirmed it is to buy Sparrowhawk Holdings, the owner of the international operations of the Hallmark Channel, in a deal estimated to be worth around £174m.
Sparrowhawk, a private equity group chaired by former Channel Five chief executive David Elstein and backed by Providence Equity Partners and 3i, purchased the Hallmark international division in 2005 for around £121m.
The company also owns other channels such as children's outlet Kids Co, the soon-to-launch women's channel Diva TV and Movies 24, which recently launched in the UK on Sky and Virgin Media, with plans to roll it out internationally.
Under the terms of the agreement, NBC Universal will acquire the 18 feeds of the international Hallmark channels, which air in 152 territories to more than 60 million subscribers across Europe, the Middle East, Africa, Australia, Latin America and Asia.
Hallmark UK, the largest channel in the group, carries NBC Universal series such as Law & Order, House and Monk.
The NBC Universal president and chief executive, Jeff Zucker, said in April that he wanted to more than double the size of the company's international cable channels within three years.
On completion, the Sparrowhawk deal will expand NBC Universal's global networks to more than 30 channels, with plans to expand to more than 50 over the next three years.
Sparrowhawk's channel brands will be added to NBC Universal's portfolio, which includes the Sci-Fi channel, 13th Street, Studio Universal and Universal Channel brands.
Mr Zucker said: "This is a perfect strategic investment for NBC Universal and illustrates our commitment to growing our company internationally.
"It is another step, among several we will take in the next year, to transform our entire portfolio, with an eye toward high-growth areas. Our combined assets will now allow us to build leading global brands and create scale in the international marketplace.
"The Hallmark Channels' geographic breadth is of particular importance to us, as it will bolster our position in existing markets and boost our growth in Asia and central and eastern Europe."
Mr Elstein added: "We have not been looking for a sale, but the opportunity of joining our assets with those of NBC Universal is unique, and offers our staff, customers and suppliers the prospect of a yet more exciting and expansive future."
The Sparrowhawk business will be headed up by the NBC president of global networks and digital initiatives, Roma Khanna.
Regards Satdude. :thum:
US broadcasting and production powerhouse NBC Universal has confirmed it is to buy Sparrowhawk Holdings, the owner of the international operations of the Hallmark Channel, in a deal estimated to be worth around £174m.
Sparrowhawk, a private equity group chaired by former Channel Five chief executive David Elstein and backed by Providence Equity Partners and 3i, purchased the Hallmark international division in 2005 for around £121m.
The company also owns other channels such as children's outlet Kids Co, the soon-to-launch women's channel Diva TV and Movies 24, which recently launched in the UK on Sky and Virgin Media, with plans to roll it out internationally.
Under the terms of the agreement, NBC Universal will acquire the 18 feeds of the international Hallmark channels, which air in 152 territories to more than 60 million subscribers across Europe, the Middle East, Africa, Australia, Latin America and Asia.
Hallmark UK, the largest channel in the group, carries NBC Universal series such as Law & Order, House and Monk.
The NBC Universal president and chief executive, Jeff Zucker, said in April that he wanted to more than double the size of the company's international cable channels within three years.
On completion, the Sparrowhawk deal will expand NBC Universal's global networks to more than 30 channels, with plans to expand to more than 50 over the next three years.
Sparrowhawk's channel brands will be added to NBC Universal's portfolio, which includes the Sci-Fi channel, 13th Street, Studio Universal and Universal Channel brands.
Mr Zucker said: "This is a perfect strategic investment for NBC Universal and illustrates our commitment to growing our company internationally.
"It is another step, among several we will take in the next year, to transform our entire portfolio, with an eye toward high-growth areas. Our combined assets will now allow us to build leading global brands and create scale in the international marketplace.
"The Hallmark Channels' geographic breadth is of particular importance to us, as it will bolster our position in existing markets and boost our growth in Asia and central and eastern Europe."
Mr Elstein added: "We have not been looking for a sale, but the opportunity of joining our assets with those of NBC Universal is unique, and offers our staff, customers and suppliers the prospect of a yet more exciting and expansive future."
The Sparrowhawk business will be headed up by the NBC president of global networks and digital initiatives, Roma Khanna.
Regards Satdude. :thum: