Report: Deal For NBC Universal Getting Close
October 13, 2009 at 4:44 AM (PT)
COMCAST and GE are getting closer to a deal for NBC UNIVERSAL, "with both companies agreeing to a timetable for GE's eventual exit from the business," reports THE NEW YORK POST, which writes "COMCAST, run by BRIAN ROBERTS, has agreed to give GE the right to redeem portions of its interest in NBCU at the three-and-a-half year and seven-year mark."
The report claims terms of the deal have GE spinning off NBC UNIVERSAL as a separate company that would merge with COMCAST's cable networks. COMCAST would then contribute about $6 billion in cash and own 51%, while GE would own 49%.
GE reportedly plans to buy VIVENDI, the parent company of UNIVERSAL MUSIC GROUP's 20% interest in NBC UNIVERSAL as part of the deal.