NBC in talks to buy Sparrowhawk Media: paper

LONDON (Reuters) - NBC Universal is preparing to buy Sparrowhawk Media, the private-equity backed owner of the Hallmark channel, for 175 million pounds ($351 million) to make its biggest foray into Britain's TV industry, a newspaper said.

Sparrowhawk's owners -- 3i (III.L) and Providence -- are close to concluding talks with NBC to sell the business, the Sunday Telegraph said in an unsourced report.

The move will help NBC, controlled by General Electric (GE.N), to achieve its target of increasing the proportion of international revenues to its overall income to 30 percent from 20, it said.