corporate deals

Comcast Acquires Majority Ownership of NBC From GE

After nine months of negotiations, Comcast has agreed to buy NBC Universal from General Electric, the New York Times reports. The deal, which will give the country's largest cable provider a 51 percent share of NBC, will reshape the television industry and fulfill Comcast's longtime goal of producing television shows and movies. GE will still own 49 percent of the network. As part of the joint ownership deal, Comcast will contribute its stable of channels, worth about $7.25 billion, and pay GE $6.5 billion in cash for a total of $13.25 billion. GE purchased back the 20 percent share of NBC ...

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