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RealTime IT News

NBC Acquires Stake in Hollywood Stock Exchange

In the latest in a series of moves to tap into the convergence of television and the Internet, NBC Friday took a minority stake in Hollywood Stock Exchange.

Specific terms of the deal were not disclosed.

The HSX site represents the collective voice of hundreds of thousands of movie enthusiasts who buy and sell virtual "stock" in celebrities, movies and other entertainment properties using "Hollywood dollars."

In addition, HSX will contribute content to NBC's (NBC) syndicated "Access Hollywood" entertainment news magazine show and receive on-air promotion on the NBC Television Network as well as online promotion on Snap.com, NBC.com and AccessHollywood.com.

Coupled with e-mail marketing and a co-branded HSX trading area, this alliance will drive traffic to HSX and help increase the stickiness of these Web sites.

"Hollywood Stock Exchange is an innovative online entertainment experience that provides real value to both 'Access Hollywood' and Snap.com," said Marty Yudkovitz, president, NBC Interactive.

"We couldn't be more pleased about this transaction, which continues to demonstrate just how NBC broadcast television and the Internet can work together in complementary ways."

NBC also has an equity stake in Snap.com, the Internet portal service operated in partnership with CNET (CNET) and iVillage.com (IVIL).

The Hollywood Stock Exchange is a digital media company that provides over 800,000 consumers per month with an online entertainment experience, driven by its patented entertainment stock market.

NBC has been busy over the past year building its portfolio of Internet holdings. In May, the company formed NBC Interactive in partnership with Snap and Xoom.com Inc. (XMCM).