NBC Universal is buying the Oxygen cable network, paying $925 million for the channel that Oprah Winfrey co-founded and co-owns.
That's great, because we all know that Oprah is hurting for money.
Oxygen joins CNBC, MSNBC, Bravo, the Sci Fi Channel and USA as members of the NBC Universal family.
According to the company, half of NBC Universal's profits come from its cable networks — and the channels are showing double-digit, year-to-year growth.
Oh, and NBC Universal still owns NBC, by the way.
DOUBLE DEALING: NBC Universal is also expanding its game-show lineup. The syndication arm of the company is selling a five-days-a-week, half-hour-a-day version of "Deal Or No Deal" to TV stations for the fall of 2008.
Prime-time host Howie Mandel has signed on for the daytime version of the show.
You've got to wonder if the "Who Wants to Be a Millionaire" syndrome will strike, however. With two (and sometimes more) prime-time episodes per week and five daytime versions, will overexposure lead to ratings declines?