GE reaches deal with Comcast for NBC

[erpowers]

Source: MSNBC, NBC Today Show

Comcast said it will put up $6.5 billion in cash and $7.25 billion in assets to buy 51 percent of NBC Universal from GE. Under the terms of the transaction, GE will contribute to the joint venture NBCU's businesses valued at $30 billion, including its cable networks, filmed entertainment, televised entertainment, theme parks, and unconsolidated investments, subject to $9.1 billion in debt to third party lenders.

In agreeing to buy 51 percent of NBC Universal from General Electric Co., which has controlled NBC since 1986, Comcast hopes to succeed in marrying distribution and content in a way Time Warner Inc. could not. AOL and Time Warner are undoing their ill-fated marriage Dec. 9. Time Warner has already shed its cable TV operations.

Comcast wants the company largely for its lucrative cable channels. It is seeking more programming to beef up its video-on-demand offerings and rely less on cable revenue as the company loses subscribers to rival providers — such as phone companies that are offering TV services — or the Internet.


GE would retain a 49 percent stake, with the option of divesting completely in seven years. The new NBC Universal would borrow $9.1 billion that would partially go toward covering the money GE owes Vivendi.




Read more: http://www.msnbc.msn.com/id/34247302/ns/business-media_biz/

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The NBC Today Show made it official this morning. At the opening of the show it was annnouncecd that Comcast will buy 51% of NBC Universial. This will make Comcast one of the biggest media networks in history. My biggest problem with this deal is that Comcast is also a cable company. I wonder if Comcast will try to go after companies like Directv by not allowing it to show any of the shows owned by Comcast.

I am sorry that this post seems to be a duplicate. I did look in the Late Breaking News discussion board and did not see any other post on the issue. Once I finished posting I saw that the was a post on the issue.

[Botany]

1. This could be bad news for Keith, Rachel, and Ed

I hope I am wrong.

[Born Free]

2. FOX 2

Not too long ago I saw a clip on Keith Obermann with a republican saying they need to acquire another network because FOX was no longer enough.

[marshall]

9. There's always the radio

That will be the place of refuge.

[Botany]

11. Regular radio is even worse

I know I did a little stuff @ a progressive station in Columbus, OH and it was bought up
and flipped to an all Catholic station ...... the third in the market.

You can go coast to coast and always get Rush & Hannity but just try to find Ed Schultz or
Steph Miller on your car radio.

And don't get me started on NPR :grr:

[dhpgetsit]

3. We need to be busting up these media giants.

I actually think we should arbitrarily bust up the 10 biggest corporations every year while we're at it.

[Auggie]

4. Bad news -- for all the obvious reasons

[johnfunk]

5. Time for a litle antitrust activity -- sooner rather than later

Comcrap has to be stopped

[Auggie]

13. Yep. First NBC. Next, Net Neutrality

[onehandle]

6. Anti-Merger site ----->

http://freepress.net/comcast

[Gidney N Cloyd]

8. FYI: The page for sending comments to Whitehouse, FTC, et al isn't secure.

If you're cautious about such things, it might be best to go directly to government sites and submit comments there.

Whatever your contact preference, this merger does seem like a really bad idea and it always pays to make your voice heard.

[Javaman]

7. the max headrooming of the media. nt

[KansDem]

10. Another outlet for selling war and fear...

...and increasing the profits.

Gotta keep makin' those high-priced weapons to keep us safe from anarchists, communists, terrorists!!!

[old mark]

12. I don't know which way Comcast tends politically, but Rupert Murdoch

was considering buying NBC at one time - US TV "News" would have been all Fox-All the Time.

I am hoping for the best, but Comcast is a very inept corporation even before this purchase.
Customer satisfaction is a joke to them.

mark

[Auggie]

14. They're Green -- as in money

[old mark]

16. Yeah, I never see anyone complaining about their bills being late....

the only part of their service that works well.

We had Comcast cable about 14 years ago, and it cost more then than our satelite service from Dish does now...and it kept going up every few months.

They have a really bad reputation.

mark

[high density]

15. Doesn't sound good for Hulu

Cable companies hate the internet.