NBC took a minority equity stake in Space.com, the online provider of outer-space news and entertainment headed by former CNN executive/financial anchor Lou Dobbs.(Brief Article)

Broadcasting & Cable, March, 2000

NBC took a minority equity stake in Space.com, the online provider of outer-space news and entertainment headed by former CNN executive/financial anchor Lou Dobbs. NBC takes the stake in exchange for cash and promotion for the Web site across NBC broadcast and cable TV properties. Financial terms of the multiyear deal were not revealed.

Clarification: Contrary to a story last week, Post-Newsweek Stations Inc. has not owned a newspaper and a TV station in the same market since the FCC instituted the newspaper-broadcast crossownership rule in 1975, Post-Newsweek's general counsel informs BROADCASTING & CABLE. When the rule went into effect, The Washington Post Co. divested itself of the TV station it owned in Washington, D.C., swapping it for WDIV(TV) Detroit.