Nbc Universal Company

Universal Parks & Resorts and South Korea's Gyeonggi province said today that they had agreed on plans for a $3.1-billion theme park to be built south of Seoul. The park in the city of Hwaseong is set to open in 2012 and will lead to the creation of more than 58,000 jobs, according to a news release from Universal Parks & Resorts, the operator of Universal Studios theme parks, and Gyeonggi province. The two parties will sign a formal agreement later today, the statement said.

Prime time isn't as prime as it used to be. NBC Universal's announcement Thursday that it will restructure to save $750 million over two years marks a retreat in prime time, the lucrative three-hour programming block from 8 to 11 p.m. that has long been the petri dish for U.S. pop culture. Instead of using the 8 p.m.

NBC Universal on Monday sought to salvage its investment in the ailing Paxson Communications Corp. network, paying $25 million for an option to buy a controlling stake from the company's founder. Current Federal Communications Commission station ownership limits would prohibit NBC Universal from buying control of the West Palm Beach, Fla., company.

Management upheaval at NBC Universal's broadcast network during the all-important advertising sales season could prove to be the biggest challenge yet for newly installed Chief Executive Jeff Zucker. On Sunday, Zucker and top NBC Universal executives were negotiating with Kevin Reilly, president of NBC Entertainment, to terminate his three-year contract that was renewed in March, said two people close to the negotiations who asked not to be named because of the sensitivity of the situation.

NBC Universal's operating profit fell 10% in the third quarter as higher revenue from a flurry of film and DVD releases was offset by a sluggish lineup of expensive new television shows. The performance was a drag on the otherwise strong results of parent and U.S. market bellwether General Electric Co., which reported a 6.1% profit increase on a 12% gain in sales. The results matched Wall Street expectations, but GE shares fell 24 cents to $35.98 on Friday.

NBC Universal said it had signed a three-year deal with DreamWorks Television, gaining first dibs and an ownership interest in shows produced by the studio. Financial terms were not disclosed. DreamWorks' previous two-year production deal with the General Electric Co. network expired in June.

NBC Universal expects its operating profit to rise 29% and revenue to rise 25% in 2005, with more modest revenue growth going forward, Chief Executive Bob Wright said Tuesday. Wright said he expected the company, a unit of General Electric Co. created by the merger of NBC and Vivendi Universal Entertainment, to post an operating profit of $3.1 billion in 2005, up from its expected 2004 operating profit of $2.4 billion.

NBC Universal on Monday promoted longtime cable executive Bridget Baker as part of a reorganization of its top management. Baker becomes president of NBC Universal Television Networks Distribution. Baker assumes cable distribution duties held by David Zaslav, who is leaving NBC Universal in the coming weeks to become chief executive of Discovery Communications Inc.

Back in September, Martha Stewart told a federal judge she wanted to promptly begin her five-month federal prison sentence so she could be out in time "to plant the new spring garden and to truly get things growing again." On Wednesday, some of the biggest names in television said they were betting the convicted felon still had a green thumb: General Electric Co.'s NBC Universal and Martha Stewart Living Omnimedia Inc.

American Airlines will get broadcast programs from NBC Universal for its flights starting March 1. NBC Universal, a General Electric Co. unit, will produce four exclusive 90-minute programs each month for the Fort-Worth carrier, the two companies said. The content will run on cabin screens and some personal entertainment devices on the airline's planes.