NBC Buys Share of Visnews

LONDON — Reuters, the news and information organization, said today it has sold a 37% share of its controlling stake in the London-based television news agency Visnews to the National Broadcasting Co. and announced a cooperation deal between the two television companies.

Under a 10-year agreement, NBC and Visnews will share offices throughout the world and NBC will provide its news and news products to Visnews to be marketed internationally. A statement said Visnews, which has become the biggest television news agency since it began in 1957, would supply all of its news to NBC for use in the United States. NBC is paying Reuters Holdings Plc about $10 million for a 37.75% stake in Visnews with Reuters retaining 51%.