from: http://biz.yahoo.com/rf/010112/n11578897.html

fair use act quotation for research and educational purposes.

LOS ANGELES, Jan 12 (Reuters) - Broadcaster NBC, home of top-ranked TV shows ``ER'' and ``Friends,'' will lay off up to 600 staff, or about 10 percent of its work force, over the next six months because of weakening ad sales, trade paper Daily Variety reported on Friday.

The paper said people would start being laid off within the next few weeks, and the cuts would affect every division of the General Electric Co. (NYSE:GE - news)-owned company.

Daily Variety quoted an NBC spokesman as saying he could not comment on ``rumors'' but that there was a hiring freeze in place until further notice.

The reported layoffs come as growing concerns over a slowing economy stoke fears of a softening advertising market in the media industry.

News Corp. Ltd. (Australia:NCP.AX - news), owner of the Fox network and film studio, last year instituted a hiring freeze. The paper said Walt Disney Co.'s (NYSE:DIS - news) ABC and Viacom Inc.'s (NYSE:VIA - news) CBS were keeping a close eye on costs.

The Wall Street Journal reported Thursday that cable news channel CNN was preparing to lay off a large part of its 4,000 employees as its Time Warner Inc. (NYSE:TWX - news) parent merges with America Online Inc. (NYSE:AOL - news).

The mega-merger received passed its final hurdle Thursday with a conditional approval from the Federal Communications Commission.

-- (perry@ofuzzy1.com), January 12, 2001