Zalaznick To Lead Oxygen
Bravo Media President To Direct Women’s Service As NBCU Completes $875 Million Acquisition
By Mike Reynolds -- Multichannel News, 11/20/2007 3:51:00 AM
NBC Universal has completed its acquisition of Gerry Laybourne’s Oxygen Media and will place day-to-day leadership of the women’s-targeted programmer under Bravo Media president Lauren Zalaznick.
The transaction, which will place Oxygen within the NBC Universal Cable group led by president and chief operating officer Jeff Gaspin, is valued at $875 million, net of financial assets, NBCU officials said.
Oxygen, which launched in 2000, counts some 74 million subscribers in trailing Lifetime Television as cable’s top women’s service.
Laybourne will not be part of the network she founded going forward. Similarly, the network's programming chief Debbie Beece won't be making the switch, as she reportedly resigned last Friday. However, Oxygen Media president and chief operating officer Lisa Gersh will remain in that role during a three-month transition-period, before assuming another position at NBCU.
The purchase fortifies the company’s position with female-focused upscale media properties, as Oxygen complements Bravo’s audience and viewers of NBC’s Today show, while the recently revamped Oxygen.TV and broadband service, SheDidWhat.TV, should mesh with women’s site iVillage. Given a host of cross-promotional and cross-platform plays, the Oxygen assets, company officials said, should serve to extend NBCU’s reach within the fast-growing women's entertainment and lifestyle market.
“We believe we can bring great value to the Oxygen brand, with our cross-promotion opportunities, programming expertise and distribution team,” said Gaspin in a statement. “Lauren has had tremendous success growing Bravo and we know, with her talent and passion, she will do the same with Oxygen.”
Noted Laybourne: “I'm very proud of what we've built at Oxygen. As I leave the company, I am delighted to pass the torch to Lauren, a seasoned executive with a proven track record.”
Commenting about Gersh’s role with the company, NBC Universal president and CEO Jeff Zucker said: “Lisa is one of the main reasons Oxygen has become such a valuable brand within the cable marketplace. She will be a tremendous asset as we integrate Oxygen into the NBC Universal family and we're delighted that an executive of her caliber and experience will be staying on with us in a new role.”
