NBC, New York, and its sibling, GE Equity, agreed to purchase 19.9% of ValueVision, the nation's third-largest home shopping network. The deal is worth about $56 million. NBC and GE Equity have an option to increase their share to 39.9%. The companies said they will "seek to rebrand ValueVision's television home shopping network in conjunction with an Internet portal" over the next 12 months. ValueVision
is available in about 21.8 million homes on a full-time basis, and another 11.2 million part time.
Copyright March 1999, Crain Communications Inc.