Formed in May 2004 through the merger of NBC and Vivendi Universal Entertainment, NBC Universal owns and operates the No.1 television network, Telemundo - the fastest growing Spanish-language network, a valuable portfolio of news and entertainment networks, Universal Studios - premier motion picture company, significant television production operations, a leading television stations group and world-renowned theme parks. It owns and operates more than 14 stations, along with CNBC Europe, which is the only pan-European real time financial and business news channel dedicated to the senior business executive, the financial professional and the active private investor. The operations for CNBC Europe and NBC Universal are centered in London and Paris.