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Internet

NBC, GE take stake in Telescan

NBC and GE Capital's Equity Capital Group have jointly staked 9.9 percent of Telescan, a provider of solutions for online technology, data retrieval, and Internet services.

    Television broadcaster NBC and GE Capital's Equity Capital Group have jointly staked 9.9 percent of Telescan, a provider of solutions for online technology, data retrieval, and Internet services.

    NBC and GE Capital, both units of General Electric, purchased a private placement of 1.22 million shares of newly issued Telescan common stock.

    The company develops and operates major online networks and Internet sites serving the financial, publishing, entertainment, and technology-transfer industries.

    Telescan said that NBC and GE Capital purchased the stock at $7.70 per share.

    Telescan provides individual investors with search tools, technical analysis, and financial data on the Internet, through its Wall Street City investor site and the customized private Web sites it develops and operates for other companies.

    Separately, Telescan said that it is in negotiations with NBC to license Telescan's technology and portions of its content, as well as to provide hosting services.

    "NBC's and GE Capital's investment in Telescan...are major steps in the growth of Telescan as technology evolves integrating computers, the Internet, and television," Telescan CEO David Brown said in a statement.

    NBC is an investor in CNET: The Computer Network, publisher of News.com.