NBC Universal to Slash Costs In News, Prime-Time Programs.

The article reports that NBC Universal will cut prime-time programs and slash its news budget in an effort to cut costs and spend more on new media and the Internet. The overhaul looks to cut operating expenses by $750 million by the end of 2007. The article also looks at the decline in broadcast network domination over the years, especially in light of the emergence of video-laden web sites. The strategies of other networks heading in a similar direction are also discussed.