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NBC Universal to acquire Sparrowhawk Media from Providence Equity Partners, 3i29/08/2007. Source: AltAssets. 
 NBC Universal has agreed to acquire television company Sparrowhawk Holdings and its global portfolio of pay TV channels, including the international (non-US) Hallmark Channels, from Providence Equity Partners, 3i and management shareholders.
Terms of the transaction were not officially disclosed, but the deal was reportedly worth about $350m.
The owners of Sparrowhawk, led by Providence Equity Partners and 3i, will sell to NBC Universal all of the company's shares, so that NBC Universal will own the international (non US) versions of the Hallmark Channel, Movies 24, Diva TV and Sparrowhawk's stake in the KidsCo joint venture. As a result of the sale, NBC Universal will also own the broadcast facility based in Denver, Colorado, and the international distribution rights to over 580 titles in the Sparrowhawk International Library (formerly the Crown Media/Hallmark Library).
On completion of the transaction, operations will be merged into NBC Universal's global networks division and managed by Roma Khanna, its newly appointed president of global networks and digital initiatives. Titles in the Sparrowhawk library will be managed by NBC Universal's television sales division, headed by Belinda Menendez, president, NBC Universal international television distribution.
Sparrowhawk was established two years ago as a vehicle for Providence Equity Partners and 3i's purchase of a portfolio of television channels from Crown media, for a reported $242m.
NBC Universal is 80 per cent owned by General Electric and 20 per cent owned by Vivendi.
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