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REUTERS SIGNS TV DEAL WITH NBC, TAKING FULL CONTROL OF VISNEWS

 REUTERS SIGNS TV DEAL WITH NBC, TAKING FULL CONTROL OF VISNEWS
 LONDON, July 21 /PRNewswire/ -- Reuters Holdings PLC (NASDAQ: RTRSY) and the National Broadcasting Company (NBC) have agreed to a 10-year television partnership which includes a joint venture to explore new opportunities in global television and allows Reuters to take full control of Visnews.
 Under the agreement, which also covers the exchange of television news, Reuters is acquiring NBC's 37.75 percent shareholding in Visnews. Reuters already has a 51 percent interest in the international television news agency and has agreed in principle to buy the remaining 11.25 percent from the British Broadcasting Corporation (BBC).
 NBC regains the right to market its news programs outside the United States, previously held exclusively by Visnews, which will retain non- exclusive rights to NBC news coverage. NBC retains a non-voting preference share and continues to be represented on the Visnews board.
 Reuters Chief Executive Peter Job, who is chairman of Visnews, said the deal with NBC forged a new partnership between Reuters and the U.S. network and marked an expansion of Reuters role in international television.
 "We intend to invest in television and make Visnews a more powerful force by extending its operations into Reuters network of 118 reporting bureaus worldwide," Job said.
 NBC News President Michael Gartner said: "This agreement recognizes that global alliances represent the future for news organizations.
 "The NBC News-Reuters partnership enhances NBC News' and Visnews' international newsgathering capabilities while providing a formidable alliance to explore global television opportunities with Reuters."
 Reuters acquisition of the BBC shares in Visnews depends on the signing of a separate news supply agreement which is now close to completion. This will also continue a strategic partnership between Visnews and the BBC. Under it the BBC regains marketing rights for its news programs while Visnews retains non-exclusive rights.
 Visnews has 454 staff worldwide, 183 of them working in newsgathering activities. Reuters has 1,100 reporters and photographers worldwide.
 -0- 7/21/92
 /CONTACT: Robert Crooke of Reuters America, 212-603-3587/
 (RTRSY) CO: Reuters Holdings PLC; National Broadcasting Company ST: IN: PUB SU:


TQ-SH -- NY016 -- 1142 07/21/92 09:10 EDT
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Publication:PR Newswire
Date:Jul 21, 1992
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