News Corporation, NBC Universal and Comcast Reach Strategic Online Video Distribution and Content Agreement
New York, NY and Philadelphia, PA
News Corporation, NBC Universal and Comcast Corporation today announced a comprehensive distribution agreement in which Comcast's Comcast.net and Fancast.com will serve as key distribution sites for News Corp. and NBCU's recently announced online video venture. Under the agreement, Comcast will also provide available non-exclusive content for domestic distribution on NBCU and News Corp's site from Comcast Networks, including E!, Style, G4, Versus and Golf Channel and will become the venture's first non-equity content provider.
In addition, the companies announced the new online video venture will utilize media management and video distribution technology from thePlatform, Inc., a Comcast subsidiary and a leading provider of broadband and mobile video publishing solutions.
"We're delighted that the nation's largest cable provider will be a major player in this new venture," said Peter Chernin, President and Chief Operating Officer of News Corporation. "News Corp. and NBC have long histories with Comcast and we're committed to expanding our relationship in this new media universe. We believe there is a wealth of opportunities to exploit broadband distribution to benefit both our businesses."
"We are very excited by the positive response our new venture with News Corp. has generated," said Jeff Zucker, President and CEO, NBC Universal. "Comcast's participation is yet another affirmation of our strategy to place top-quality, protected content in as many places as possible."
"We are pleased to have the best of NBC and Fox's TV content available to our customers on Comcast.net and Fancast.com," said Steve Burke, Chief Operating Officer, Comcast Corporation, and President of Comcast Cable. "Making TV content available on multiple devices will enable our customers to view their favorite shows on television, online and on video-on-demand."
Distribution across Comcast sites will include Comcast.net, and Fancast.com, a new entertainment site launching this summer that will enable users to view video as well as search, discover and manage both TV and movie content.
NBC Universal and News Corporation's recently-announced video site will launch in the summer with thousands of hours of full-length TV programming, clips and movies, representing premium content from more than a dozen networks and two major film studios. The new venture's content will be distributed via some of the most-popular sites on the Web, including AOL, MSN, MySpace and Yahoo. The new NBCU/News Corp. joint venture will have offices in Los Angeles and New York. Permanent management and corporate branding will be announced shortly.
About News Corporation
News Corporation (NYSE: NWS, NWS.A; ASX: NWS, NWSLV) had total assets as of December 31, 2006 of approximately US$59 billion and total annual revenues of approximately US$27 billion. News Corporation is a diversified international media and entertainment company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers; book publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and the Pacific Basin.
About NBC Universal
NBC Universal is one of the world's leading media and entertainment companies in the development, production, and marketing of entertainment, news, and information to a global audience. Formed in May 2004 through the combining of NBC and Vivendi Universal Entertainment, NBC Universal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group, and world-renowned theme parks. NBC Universal is 80% owned by General Electric and 20% owned by Vivendi.
Comcast Corporation (Nasdaq: CMCSA, CMCSK) (http://www.comcast.com) is the nation's leading provider of cable, entertainment and communications products and services. With 24.2 million video customers, 11.5 million high-speed Internet customers, and 2.5 million phone customers, Comcast is principally involved in the development, management and operation of broadband cable systems and in the delivery of programming content.
Comcast's content networks and investments include E! Entertainment Television, Style Network, The Golf Channel, VERSUS, G4, AZN Television, PBS KIDS Sprout, TV One, four regional Comcast SportsNets and Comcast Interactive Media, which develops and operates Comcast's Internet business. Comcast also has a majority ownership in Comcast-Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia.