NBC Universal and Group M have wrapped up the first upfront deal of the year, sources tell Broadcasting & Cable.

The two companies denied that the deal is complete. Source said the agreement calls for an overall 7 point CPM decline on the broadcast side and a 3 point decline on the cable side. The network part of the deal was divided into two parts, with higher CPMs for NBC’s 8-10 p.m. block and lower ones for the 10 p.m. Jay Leno talk show strip.

–Elizabeth Jensen