Thursday, December 3, 2009

Comcast Gets NBC from G.E. in deal that reshapes TV

After nearly nine months of negotiations, Comcast, the largest cable operator in the United States, reached an agreement on Thursday to acquire NBC Universal from the General Electric Company. The deal valued NBC Universal at about $30 billion.

The agreement will create a joint venture, with Comcast owning 51 percent and G.E. owning 49 percent. Comcast will contribute to the joint venture its stable of cable channels, which includes Versus, the Golf Channel and E Entertainment, worth about $7.25 billion, and will pay G.E. about $6.5 billion in cash, for a total of $13.75 billion. For now, the network will remain NBC Universal, but ultimately Comcast could decide to change the name.

Almost immediately, the transaction reshapes the U.S. entertainment industry, giving a cable provider a huge portfolio of new content.

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