NBC Universal Takes Ownership of Sprout Cable Network

The NBCUniversal Cable Entertainment Group has acquired full ownership of the fast-growing preschool cable network PBS Kids Sprout, signaling its intent to more aggressively build up its children’s and family entertainment business, which already encompasses theme parks and movies. The company, which a year ago owned 40 percent of the network, bought out the ownership stakes of two partners, PBS and HIT Television Ventures, which is owned by Apax Funds. No terms were disclosed. Another former partner, Sesame Workshop, sold its stake to NBCUniversal in December 2012. As a result of the ownership change, the network will now be known as Sprout, and the PBS name will be removed.