More Funding for TV One

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TV One started the week with six funding players involved in the
African-American programming channel co-developed by Comcast Corp. and Radio One
Inc.

Three other venture-capital and private-equity institutions have joined Bear
Stearns Cos. Inc. unit Constellation Ventures in making TV One investments.

They are: Syndicated Communications Inc., or Syncom, the Washington,
D.C.-based minority entrepreneur investment house; Opportunity Capital Partners,
a national private-equity firm; and Pacesetter Capital Group, a family of
private-equity funds.

With Comcast, Radio One and Constellation, about $130 million will be
invested in TV One over the next four years.

The network is preparing to premiere in January 2004.

Constellation disclosed its arrangement last week, when one of its key
executives attended the New York Venture Summit.

"This investment is consistent with Constellation's philosophy of investing
in programming services in underserved markets with the strongest distribution
and strategic partners," managing director Dennis Miller noted in a prepared
statement released Monday morning.

Miller, as well as Syncom partner Terry Jones, will also join TV One's board
of directors.

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