In the early 1980s, Houston's American General Corporation, another insurance holding company, announced a hostile takeover bid for NLT. NLT made a counter-offer to buy out AGC. In 1982 AGC, which had owned rival Life and Casualty since the 1960s, triumphed. Having acquired NLT, AGC began to merge the former rivals (not fully completed until almost the end of the decade) and to spin-off the "non-core" assets of NLT, particularly the entertainment properties. The Grand Ole Opry, Opryland theme park, WSM and fledgling cable television network TNN: "The Nashville Network" were sold to what became Gaylord Entertainment Company. American General would later merge into New York-based American International Group (AIG). Its division of the corporation is now branded as American General.