By Seth Sutel
The Associated Press

NEW YORK - NBC clinched its big media prize Wednesday, completing a merger with the Universal television and entertainment businesses to create a major media conglomerate.

NBC Universal will rival Time Warner Inc. and Viacom Inc. in industry clout by combining a top-rated TV network backed up by a major film and TV studio.

The new management lineup is heavy with NBC talent, starting at the top with NBC chief Bob Wright, who will be the chairman and CEO of the new company. NBC's entertainment leader Jeff Zucker will manage all of NBC Universal's programming, while Randy Falco, the head of the NBC network, will oversee sales and operations.

The only executive from the Universal side to keep a senior role at the company is Ron Meyer, the head of Universal Studios, who will remain head of the Hollywood studio as well as its associated theme parks.

Appearing at a news conference in New York, top executives from the new company downplayed questions about cultural differences between NBC and Universal and said they expected a smooth integration process. The AOL Time Warner debacle wasn't mentioned by name, but its well-publicized problems were clearly on everyone's mind.

"It wasn't done haphazardly," Meyer said of the months-long integration process of NBC and Universal. "I think we can do it differently and better than it's ever been done before."

The deal brings together television's top-rated network among the 18-49 age group, which advertisers try hardest to reach; a major movie studio; a television production studio; a handful of cable TV channels including USA, Sci-Fi, CNBC and Bravo, and 29 television stations.

Several of the Universal businesses are familiar to NBC, including cable networks, television production and syndication.

In trading on the New York Stock Exchange, GE shares were up 15 cents to close at $30.40, while Vivendi's U.S. shares were down 7 cents to close at $23.74.