National Geographic, NBC, and FOX Entertainment GroupAnnounce Worldwide Venture to Expand the National GeographicChannel.
WASHINGTON--(BUSINESS WIRE)--May 5, 1999--
-- Fox Becomes Partner in Fastest Growing
International Cable Channel --
-- First Channel to Earmark Profits for Exploration --
The National Geographic Society, NBC, and Fox Entertainment Group (Fox) announced today plans to expand globally the National Geographic Channel.
Fox becomes a 50% owner of the Channel's operations worldwide except for territories covered by National Geographic U.K., in which British Sky Broadcasting (BSkyB) is a partner. NBC and National Geographic Television (NGT) will each retain 25% interest and the three partners intend to expand the Channel worldwide from its current base of 54 countries and nearly 40 million households.
NGT, NBC, and Fox intend to grow the existing territories and to expand into new ones, including the U.S.
The National Geographic Channel will also become the first commercial channel in history to earmark a percentage of its profits directly for the support of exploration, scientific research, and education through the Society's Committee for Research and Exploration, its Expeditions Council, and other environmental and educational initiatives.
The announcement was jointly made by: John Fahey, President and Chief Executive Officer, National Geographic Society, Bob Wright, President and CEO, NBC, and Chase Carey, Chairman and Chief Executive Officer of Fox Television on behalf of the Fox Entertainment Group.
According to the terms of the venture National Geographic will provide its award-winning programming to a branded National Geographic Channel owned by the three partners. Fox Entertainment Group and News Corp. will facilitate NGC's international expansion strategy, providing worldwide distribution platforms and operations.
A board comprising representatives from each of the three partners will oversee the venture.
"We're excited to be advancing our partnership with such a distinguished institution as National Geographic. We look forward to building on the relationship that Fox already has through its parent News Corporation, with BSkyB -- the premier United Kingdom pay-television service 40%-owned by News Corporation. BSkyB and National Geographic/NBC are equal partners in a highly successful channel in the United Kingdom and this latest venture will help to bring the valued brand name National Geographic to more people around the globe," said Carey, Chairman and CEO of Fox Television, in making the announcement.
