Providence invests $100M into NBC-News Corp. video site
The YouTube-like site being formed by NBC Universal and News Corporation has received $100 in financing from a Rhode Island investment firm, Providence Equity Partners.
The New York Times’ Brad Stone has the story, saying the deal places a value of $1 billion on the venture, an astonishingly high valuation for a joint venture that has made surprisingly little progress since it was announced several months ago. The site, planned by NBC and News Corp. to… Continue Reading