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NEW YORK Media investment firm Providence Equity will invest $100 million in the still-unnamed NBC Universal/News Corp. joint online video venture, according to a published report.
The New York Times said that the investment, which will be formalized in a couple of weeks, will give the Rhode Island-based firm a 10 percent stake in the joint venture as well as a board seat, a person familiar with the situation said Thursday. Industry sources said Providence was one of many firms that came to the venture looking to make an investment.
Providence
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