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Comcast Acquires NBC

Posted on Dec 3, 2009 / TechFever

Under the joint ownership deal, Comcast will own 51 percent of NBC, GE 49 percent.

In a deal that will dramatically affect both the story lines on NBC’s “30 Rock” as well as the future of media conglomeration, Comcast, the country’s biggest cable provider, has acquired NBC Universal from General Electric for an estimated $30 billion. —JCL

The New York Times:

After nearly nine months of negotiations, Comcast, the nation’s largest cable operator, finally 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 nation’s entertainment industry, giving a cable provider a huge portfolio of new content, even as it raises the sector’s anxieties about the future.

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By ajay, December 7, 2009 at 11:57 am Link to this comment
(Unregistered commenter)

Comcast Acquires White House Press Office for $1.2 Billion

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By C.Curtis.Dillon, December 4, 2009 at 1:39 am Link to this comment

I have a great suggestion:

We create a single company ... call it “media, inc.” and we put all the media resources in it.  Cable, content providers, the internet ... absolutely everything.  We appoint Rupert Murdoch as CEO and populate the board with all the media maniacs who are now destroying independent media in America.  Anyone who refuses to join the megacorp, say Amy Goodman and her DemocracyNow channel, are denied access to the public.  Then, we could all get the same news and turn America into one big, happy family.  No more arguments about politics or the environment.  No more concerns about the wars (“What wars?  I’ve heard nothing about any wars on my TV for months.  We pulled out of Afghanistan and Iran last year ... Glen Beck told me so.”)  Wouldn’t be so wonderful?  We could all live our lives as ignorant morons (oh wait ... we already do that) laughed at by the rest of the world.  But at least it would be America ... the exceptional idiots of the universe.

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By Blackspeare, December 3, 2009 at 1:29 pm Link to this comment

Wait a minute!  If Comcast can afford to buy 51% of NBC/Universal from GE, then their customer rates were really over-priced!!!  At least we know one thing that the de-regulation of the communication industry did little good for the general public.  It was always a given that industries involved in much needed public services and had monopolies created by extensive infra-structure had to be regulated otherwise the greed gene would take over.  Well, it looks like that is just what happened.  I live in a area where the power companies have been de-regulated and you should see my bill!!!  But what interests me is that when the electric cost increases so do the gas rates——why is that?——they’re two separate commodities and all natural gas is from the US not from foreign commerce.  It couldn’t be price-fixing or could it??!!

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