NBC Television Network was founded in 1947 by RCA (NBC's former parent company). In 1979, they changed its name to NBC Productions. In 1995, NBC launched a partnership with television director James Burrows to create 3 Sisters Entertainment, which produced five series for the network. Out of these five, the most successful from the venture were Will & Grace and Caroline in the City (co-produced by CBS Productions and owned by CBS Media Ventures). In 1996, the company was renamed NBC Studios. In July 2004, NBC Studios merged with Universal Network Television to form NBC Universal Television Studio.