NBC looking at Telemundo
By BroadCasting & Cable Staff -- Broadcasting & Cable, 8/20/2001 6:44:00 AM
NBC has joined the ranks of media companies interested in acquiring Spanish-language television company Telemundo Communications Group Inc., The Wall Street Journal reports.
NBC has taken a close look at Telemundo and has had "serious" internal discussions about preparing a bid for it, the Journal reports, citing a source familiar with NBC's plans. NBC has also reportedly had talks with executives of Sony's Sony Pictures Entertainment unit. Earlier this year, Viacom Inc. held preliminary talks with Telemundo owners Sony and Liberty, but the company said the going price in Spanish-language media was too high.
Telemundo's owners aren't actively seeking to sell it, but have been willing to listen to unsolicited proposals from interested buyers. In addition to Viacom and NBC, Walt Disney Co. and Dallas-based radio-station group Hispanic Broadcasting Corp. have also expressed interest. The Journal cites one source who says the asking price for Telemundo is $3 billion.
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