In 1968, NBC pulled the plug on "Star Trek," in what would later become one of the biggest network blunders of all time. Now, NBC once again owns the exclusive broadcast rights to the series.

That has come on the heels of General Electric, the parent company of NBC, completing its $43 billion purchase of Vivendi Universal's American entertainment assets, which includes the Sci-Fi Channel. The new company formed from the purchase will be called NBC Universal.

The new company will be owned 80 percent by GE and 20 percent by Vivendi Universal Entertainment shareholders. It will include the NBC Television Network, Universal Pictures, NBC Studios and Universal Television, the USA Network, Bravo, Telemundo, and interest in five theme parks.

"This agreement is a significant milestone in the history of both NBC and General Electric," Said Bob Wright, vice chairman of GE and chairman of NBC. "The combination of GE's and Vivendi Universal's respective media assets into a dynamic new company considerably strengthens our capabilities as a content providers and packager, and sets the stage for long-term growth."

Even though the deal is closed, some regulatory agencies still need to give their approval of the sale/merger. However, company executives expect it all to be complete by early next year.

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