NBC Universal to Acquire iVillage

08 March 2006

    NEW YORK - The US media giant, seeking to jumpstart its online presence, announced it will pay $600 million (€499.92m; £343.01m) to acquire iVillage, a female-oriented internet company.
    NBC Universal executives hailed iVillage as the "centrepiece" of NBC's online strategy and predicted it would dramatically raise the portal's profile through the promotional muscle of its cable and TV networks.
    Once absorbed into the NBC operation, iVillage is expected to generate $200m in digital revenues this year, thereafter generating a consistent annual growth of 20%.
    Overcome by the excitement of it all, NBC Universal Digital Media president Beth Comstock lapsed into prose of a decidedly purple hue: "We believe this is a rallying cry - a rallying event - for NBC Universal for our digital strategy," she proclaimed.