The popular news website MSNBC.com will continue as a 50-50 joint venture between NBC Universal and Microsoft, the two companies said in a statement.

But NBC, which is owned by the General Electric conglomerate, will assume control of the cable channel with the option to buy Microsoft's remaining shares and take 100 percent ownership within two years.

"Acquiring a controlling interest in MSNBC will allow us to fully integrate the channel into our news operations and our overall cable platform," NBC News president Steve Capus said, without disclosing the financial terms.

"MSNBC is a critical component of NBC News' success and has made some key viewership gains in recent months," he said.

Since its launch in 1996, MSNBC has struggled to compete with bigger rivals Fox News and CNN.

In the third quarter, the channel averaged 471,000 viewers in prime-time hours, against 2.3 million for Fox and 1.1 million for CNN, according to Nielsen Media Research.

MSNBC.com, in contrast, ranks among the top US news sites and recently posted its first full year of profitability.

"It's business as usual," MSNBC.com president Charlie Tillinghast said.

"In case anyone wondered whether one or both partners were fully committed to the venture, the fact that this agreement has been reaffirmed should dispel any of those perceptions," he said.

Under the deal, MSNBC.com retains online rights to NBC News content, including from the CNBC business network, Tillinghast said.

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