GE sells rest of NBCU to Comcast for $16.7 billion

GE sells rest of NBCU to Comcast for $16.7 billion
Comcast has announced today that it will be purchasing the remaining 49 percent of NBCUniversal that it does not own.

The massive cable company will purchase the stake from GE for $16.7 billion, giving it 100 percent ownership of the film and television company.



In 2011, Comcast purchased the majority stake from GE for $13.75 billion after 16 months of regulatory hurdles.

Additionally, the cable co. is purchasing NBCU's floors at 30 Rockefeller Plaza in NYC for $1.4 billion.

Comcast had the right to buy the remaining stake starting in July 2014, but decided the price was right today. "Our belief is that we would have paid more later," added Comcast's CEO.

Written by: Andre Yoskowitz @ 12 Feb 2013 21:09
Tags
Comcast NBCU ge stake
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  • 3 comments
  • Qliphah

    Jack, you really bungled this one up.

    13.2.2013 11:59 #1

  • Justoneguy

    Originally posted by Qliphah: Jack, you really bungled this one up. Are you referring to Jack Welch, the G.E. CEO who retired in 2001?

    13.2.2013 23:10 #2

  • Qliphah

    Jack Donaghy, from 30 Rock actually. :P

    14.2.2013 10:27 #3

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