Apparently, NBC Universal’s $925-million acquisition of Oxygen Media is being considered a bargain, valuation-wise:

Derek Baine, a media analyst for SNL Kagan who had estimated the value of the channel at about $1.1 billion, told The New York Times on Tuesday, “When you look at the comparable prices and the historical benchmarks, you would have to say NBC made a great deal.”

He noted that NBC was paying only $12 a subscriber for Oxygen, which has about 74 million subscribers. It paid $22 a subscriber for Bravo in 2002, when that channel had 54 million subscribers.

“NBC paid $1.3 billion for Bravo,” Mr. Baine told The Times. “There was a lot of skepticism about that deal when NBC made it. But Bravo now generates over $150 million a year in cash flow.” He estimated that Oxygen could soon generate about $100 million in cash flow for NBC.

Analysts should keep that in mind, considering this is NBC’s second swipe at buying its way into synergistic women’s-targeted media. And since their first attempt, when they bought iVillage, was a floundering failure, I’d expect the Peacock to flub this try too, thus creating negative compensation for the relatively low price they’re paying. As well as demonstrating that NBC just doesn’t know how to communicate with women.