NBC buys Oxygen TV

NBC Universal has agreed to pay $925 million (E652m) for Oxygen Media, the independent cable television channel for women launched seven years ago by talk-show host Oprah Winfrey. It marks NBC's latest move to tap into the cable sector. Executives hope they can cross-promote NBC’s traditional broadcast network, cable services and Internet portals, and believe the combination will appeal to advertisers seeking multi-media packages.

NBC plans to sell two of its Spanish-language television stations, including KWHY-TV Channel 22 in Los Angeles and another in Puerto Rico, to help finance the transaction.

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