NBC entered home shopping business with purchase of 19.9% of ValueVision, 3rd largest shopping network after QVC and Home Shopping Network. NBC and GE Equity paid $56 million in stock, and each received seat on ValueVision's board. NBC and GE Equity said they have option to increase their combined stake to 39.9%. NBC will handle ValueVision's cable and affiliate relations, parties said, and will design Web portal in reshaping of ValueVision's site (vvtv.com). "We're putting the NBC Cable Distribution team to work to help ValueVision increase its distribution," NBC CEO Robert Wright said. NBC Cable Exec. Vp Thomas Rogers said deal would strengthen ValueVision's position in cable while giving NBC access "to electronic revenue streams like home shopping through cable and Internet." NBC acquired minority stake in portal Snap! last year, and it could be combined with ValueVision.