Tuesday, October 21, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Toshiba Debuts New 2-in-1 Convertible PC with a 360-Degree Design
Acer Leads The Growing Chromebook Market
China Denies Apple's iCloud Hack Allegations
Samsung Galaxy KNOX Devices Approved for U.S. Government Classified Use
iPhone 6 Demand Help ARM's Growth
SK Hynix Develops High Density 16GB NVDIMM
Samsung Mass Produces 8-Gigabit DDR4 Based on 20 Nanometer Process Technology
Strong iPhone, Mac And App Store Sales Drive Apple's Record September Quarter Revenue And Earnings
Active Discussions
Copied dvd's say blank in computer only
How to generate lots of different CDs quickly
Yamaha CRW-F1UX
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
 Home > News > General Computing > Comcast...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, February 13, 2013
Comcast to Buy General Electric's Ownership Interest in NBCUniversal


Comcast will buy the remaining half of NBCUniversal by General Electric (GE), in a $16.7 billion deal that underlines the importance of TV despite the the growth of internet video.

Comcast will acquire GE?s entire 49% common equity stake in the NBCUniversal joint venture for approximately $16.7 billion. Also, NBCUniversal will purchase from GE the properties used by NBCUniversal at 30 Rockefeller Plaza and CNBC?s headquarters in Englewood Cliffs, NJ for approximately $1.4 billion.

The acquisition accelerates GE's divestiture ahead of a redemption period that would have begun in July 2014 and solidifies Comcast?s position as a leading media and technology company.

The transaction is expected to close by the end of the first quarter of this year.

"This is an exciting day for Comcast as we have agreed to accelerate the purchase of NBCUniversal. The management team at GE has been a wonderful partner during the past two years and their support has been very valuable. Our decision to acquire GE's ownership is driven by our sense of optimism for the future prospects of NBCUniversal and our desire to capture future value that we hope to create for our shareholders," said Brian L. Roberts, Chairman and CEO, Comcast Corporation. "We believe the terms of the transaction are attractive and have planned for this event by taking a number of financial steps to prepare our balance sheet. We believe we are in a strong and unique position to continue to grow and build value in our combined company."

Comcast said it would finance the deal with $11.4 billion of cash on hand, $4 billion in debt owed to GE, $2 billion from its own credit lines and $725 million in preferred stock issued to GE.

Broadcast TV revenue rose 7 percent last year and as the advertising market has rebounded, Comcast's move makes sense as TV will most probably continue to be a really important part of the advertising picture for years to come.

As part of Comcast's takeover, NBC Universal changed its corporate logo to NBCUniversal - without the space.


Previous
Next
Yahoo Buys App maker Alike        All News        NEC To Showcase 7-inch Tablet, LTE Smartphones At MWC 2013
Europol, Spanish Police Dismantle Internet Fraud Network     General Computing News      Opera Gears Up At 300 million Users, New WebKit Engine

Get RSS feed Easy Print E-Mail this Message

Related News
Comcast Offers Cloud TV In San Franscisco
Comcast May Start Streaming EA Games to TVs Soon
Netflix To Use Comcast For Faster Broadband Access
Comcast To Buy Time Warner Cable For $45B
Comcast Launches Digital Movie Service
Comcast, NBCUniversal and Twitter Form Social TV Strategic Partnership
Comcast to Pay $800,000 As Part Of Settlement With FCC
Comcast Launches X1 Television Platform, Remote Control App
Comcast to Charge Heavy Downloaders
WatchESPN Comes to Comcast's XFINITY TV Video Customers
Comcast Launches Xfinity Streampix, A New Streaming Video Service
Disney and Comcast Announce Distribution Agreement for TV, Web

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .