Comcast buys NBC Universal

Today the number two Cable Provider Comcast Corporation buys NBC Universal for  $30 billion.

The deal gives Comcast 51% controlling stake of NBC Universal which includes NBC television Network, a percentage of Telemundo Network(Spanish Language Broadcaster),NBC,  Telemundo owned and operated television stations. In addition the deal includes USA  Network, Universal Studios and Theme  Parks and the newly acquired Weather Channel.

GE will sell its interest in NBC Universal to Comcast; in turn Vivendi which owns a 20% stake in NBC Universal will sell its stake GE and GE will transfer NBC Universal to Comcast.

Comcast will use $6.5 billion in cash. And take $7.3 billion in assets by selling Versus sports network; Golf Channel and E! Entertainment Television.

The deal ending 23 year corporate marriage between  GE and NBC which came about  in merger in 1986.

Fox Business Network


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