NBC and Dow Jones venture to establish global media force

The international news giants, NBC and Dow Jones, announced their long-awaited strategic alliance this week in an initiative that will create a global media force.

The international news giants, NBC and Dow Jones, announced their

long-awaited strategic alliance this week in an initiative that will

create a global media force.



The new joint venture is designed to capitalise on the broadcasting

infrastructure and news gathering strengths of the two players in a bid

to establish a lead in global TV business news.



The initiative will draw on the assets of NBC, including CNBC and the

partnership with Microsoft, MSNBC, as well as Dow Jones’s Wall Street

Journal, European Business News and Asian Business News.



In Europe, CNBC Europe and EBN will merge to form a single business

television channel, CNBC, which will be matched by a similar service in

Asia. In the US, CNBC will draw on Dow Jones’s editorial resources. Dow

Jones’s Wall Street Journal Interactive will also feature on the

existing MSNBC Internet site.



NBC will provide marketing, distribution and administrative services for

the venture. An international sales team will be headed by Stephen

Harvey, currently the advertising sales director of Dow Jones

International Marketing Services.



The sales operation will embrace airtime sales for both the Asian and

European TV services and will also co-ordinate sales packages across

CNBC channels and other group products including the Wall Street

Journal.



The service will be available in nearly 15 million European homes on a

full-time basis and 50 million on a part-time basis from early next

year. The European headquarters will be in London.



Bob Wright, president of NBC, said: ’Both companies are committed to

international growth and appreciate the challenges of developing TV in

key global markets.’



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