Comcast Buys Majority Interest Of NBC Universal
December 3, 2009 at 5:16 AM (PT)
COMCAST, the largest U.S. cable-television company, "will start a joint venture with GENERAL ELECTRIC’s NBC UNIVERSAL unit, creating an entertainment company valued at about $37 billion," reports BLOOMBERG.
The plan, announced TODAY (12/3), will merge COMCAST cable channels worth $7.25 billion with the NBC UNIVERSAL assets, valued at $30 billion. "COMCAST also will contribute $6.5 billion in cash. The cable operator will own 51% of the new entity, which JEFFREY ZUCKER will lead," continued BLOOMBERG.
COMCAST completed the deal after VIVENDI SA, the parent company of UNIVERSAL MUSIC GROUP, agreed to sell its 20% of NBC UNIVERSAL to GE for $5.8 billion (NET NEWS 12/1).