NBC Universal and its affiliates will create a new joint venture called the National Broadband Co. that will market video from NBC and its affiliates to Web portals and for syndication. The affiliates' meeting Wednesday in New York approved the joint venture, dubbed NBBC, which outgoing affiliate board chairman Terry Mackin said would be funded by significant investment by both NBC and its affiliates. NBC and its affiliates will step in to serve a market that wants video and will pay to increase their inventory with NBC and affiliate-generated content.

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