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NBC Takes Minority Stake in Space.com

March 23, 2000|From Bloomberg News

NEW YORK — General Electric Co.'s NBC television network said it has acquired a minority stake in closely held Space.com, which provides news about space over the Web and is headed by former CNN news anchor Lou Dobbs.

Under the agreement, NBC will pay a combination of cash and TV advertising time on its network. It didn't disclose financial details.

NBC will gain rights to Space.com's content and will pursue promotion, marketing and content distribution with Space.com.

Shares of Fairfield, Conn.-based GE rose 38 cents to close at $150.88 on the New York Stock Exchange on Wednesday.

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