NBC Universal is buying Oxygen Media, a cable television network designed to appeal to women, for about $925 million, an Associated Press report said.
'This acquisition increases our foothold in the advertiser-coveted young, upscale, female demographic,' NBC Universal president and CEO Jeff Zucker, quoted by the report said.
Oxygen was founded in 2000 by current chairman and CEO Geraldine Laybourne, Oprah Winfrey and television producers Marcy Carsey, Tom Werner and Caryn Mandabach, the report said.
The network broadcasts syndicated sitcoms such as 'Mad About You' and 'Roseanne,' as well as several reality shows and movies geared to women.
It is available in about 74 million homes and drew a record number of viewers in its most recent quarter, NBC Universal said.
Oxygn will be folded into NBC Universal's entertainment cable division, which includes USA Network, Bravo, SciFi, CNBC and MSNBC.
Excluding financial assets, the deal is worth about $875 million, NBC Universal said.