Stock Watch: NBC Buys More of

NBC announced late Monday that it is investing $25 million more in direct e-commerce company (Nasdaq: XMCM), which will become part of the new NBC Internet public company later in the year. In addition, NBC said it is furthering its commitment to and the pending NBC Internet deal by accelerating a $30 million cash investment it had previously announced. This brings NBC’s total investment to $55 million at an average price of $57.30 a share.

The most significant part of this announcement, of course, is the average price, which is much more than what is trading for right now. Shares of closed down 1/2 to 43-/18 on Tuesday. NBC and its parent company General Electric are obviously counting on NBC Internet to add a lot of shareholder value.

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