Measured in Internet time, The National Broadband Company (NBBC) was merely a blip in cyberspace. The division, created last September by NBC Universal to oversee online video distribution, is no more.
NBBC has been absorbed by NewSite, a new online venture between NBC and News Corp. NBCU reportedly bought back equity stakes in the venture, which included NBC affiliate stations. Each will have to renegotiate deals with the new company.
“One of the interesting things about the digital space is how quickly it evolves and changes,” George Kliavkoff, NBCU’s chief digital officer told Online Media Daily. ”NBBC was chugging along quite successfully. But we saw that NewSite could use NBBC’s resources.”
Of the NBC affiliates, Kliavkoff said they got a “tremendous return” for their short tenure as partners. “I can’t say how much, but it’s more than I’ve ever received from any investment,” he said.
NBBC reportedly had about 45 full-time employees and 150 partners. The partners included Hearst, A&E Television Networks, The Horror Channel, Vibe Media Group, CNET Networks and Forbes.com. Advertisers included JPMorgan Chase, Procter & Gamble, Sheraton Hotels & Resorts and Toyota Motor Sales.
Kliavkoff was set to give up his management duties on July 9, with former Amazon exec Jason Kilar heading the new venture.