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News > Deals
NBC eyes Telemundo
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. graphic

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.