IPFS News Link • MEDIA (MainStreamMedia - aka MSM)
GE Gets One Step Closer To Selling NBC to Comcast
• SlateGeneral Electric tentatively agreed to buy French
media conglomerate Vivendi's 20 percent stake in NBC Universal for $5.8
billion. The deal removes "the final major obstace," as the Wall Street Journal describes
it, to sell a controlling interest of NBC Universal to Comcast. Getting
Vivendi's NBC stake was necessary in order to push the deal that would value NBC Universal at about $30 billion and create one of the world's largest media companies. Although it is not yet a done deal, everyone thinks it's highly likely that the sides will agree on a joint venture that will give
Comcast 51 percent ownership of NBC while GE will keep a 49 percent
stake. Even after the deal is announced, it could take regulators
anywhere from six months to a year to approve the deal.
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