RealTime IT News

NBC Reportedly Near Internet Deal

General Electric Co.'s NBC is reportedly considering a deal with a major Internet company that could ultimately lead to an initial public offering later this year.

According to published reports, GE, which holds a 19 percent stake in the Snap! portal, is considering a deal with America Online or Lycos.

The reports say NBC's foray would start as a joint venture, possibly leading to a 20 percent spinoff of its Internet holdings in IPO as early as March.

An NBC spokesman did not return phone calls seeking comment.

NBC is reportedly looking for ways to use its brand to bring in additional revenue since its television operations have been hurt by the loss of Seinfeld and the hefty sum paid to keep successful shows such as E.R.