CANNES:Recently installed co-chairman of NBC Entertainment & NBC Universal Television Studio Ben Silverman announced on Tuesday that his network was buying women-focused television network Oxygen Media, adding it to its roster of cable television channels.

The purchase price: $925 million.

Silverman, who made these comments during his keynote speech at the Mipcom, also announced that the Peacock Network was bringing back 80s drama Knight Rider, the show that made David Hasselhoff a household name long before Baywatch came along.

"I can announce today that we are bringing back Knight Rider after we looked at how well Bionic Woman did," Silverman said.

Silverman also announced that he would be soon getting into discussions with auto majors for Kit, the talking Knight Rider car.

Just as Kit will be a new 21st Century supercar, expect a new actor to play the lead. Silverman would not give a direct answer when asked about it though, other than to say, "If the market wants it, he will be there."

Knight Rider ran between 1982 and 1986. In the series David Hasselhoff starred as Michael Knight, a kind of modern-day "knight" who drove an advanced smart car with artificial intelligence. Conceived and produced by Glen A. Larson, the show was an instant hit and inspired a sub-genre of high-tech crimefighter series. "I wanted to do The Lone Ranger with a car", Larson said in The Last Great Ride. "Kind of a sci-fi thing, with the soul of a western."