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NBC eyes Telemundo
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August 20, 2001: 7:59 a.m. ET
GE unit said preparing 'serious' bid for Spanish-language media company
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NEW YORK (CNNfn) - NBC has joined the pack of suitors courting the Spanish-language television company Telemundo Communications Group Inc., according to a published report Monday.
The Wall Street Journal, citing people familiar with the situation, said the General Electric Co. (GE: down $0.80 to $40.80, Research, Estimates) broadcasting unit is preparing a "serious" bid for Telemundo, and also has held preliminary talks with executives of Sony's Sony Pictures Entertainment unit. Telemundo is principally owned by Sony Corp. (SNE: Research, Estimates) and Liberty Media Group.
For NBC, acquiring Telemundo would give it an entry into a growing marketplace and an opportunity to expand its media holdings, which have been trailing its rivals Viacom, News Corp. (NWS: Research, Estimates), and Walt Disney, the report said.
Telemundo's owners have entertained unsolicited bids from interested buyers, but it remains unclear whether Telemundo is clearly on the auction block, the paper said.
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NBC and Telemundo declined to comment on the matter, the paper said.
Other bidders for Telemundo include Walt Disney Co. (DIS: Research, Estimates), Dallas-based radio-station group Hispanic Broadcasting Corp., and Viacom (VIA: Research, Estimates), although the company earlier this year said the going price for the Spanish network was too high, the report said. 
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