NBC Buying Oxygen for $925M

NBC Universal is snapping up Oxygen Media, saying it will pay $925 million for the cable channel aimed at women—up to $500 million less than some analysts expected. The channel launched in 2000 with much fanfare to challenge Lifetime, but never had a hit show, despite backing from Oprah Winfrey and a bevy of industry execs.

But NBC says the channel has seen recent growth in programming. The media and entertainment giant hopes that Oxygen's 18-49-year-old women viewers will come to iVillage, NBC's flagging female-oriented site; the buy reflects NBC’s interest in adding to its stable of cable properties, which include USA Network and Bravo. (More NBC Universal stories.)