Big deal. (NBC and Hicks Muse create joint venture)(Brief Article)

Broadcasting & Cable, November, 1997 by Brown, Sara

NBC and Hicks Muse are embarking on a joint venture to which each will contribute one station: KNSD(TV) and KXAS-TV respectively. NBC will own 79.62% of the equity in the stations, and Hicks Muse will own 20.38% of the equity, but each will have equal voting interests. In return, NBC's sister company, General Electric Capital Corp., will loan Hicks Muse $815.5 million in a 25-year interest-only loan, and NBC will extend the Hicks Muse stations' affiliate agreements until 2010.