Comcast to purchase remaining 49% NBCUniversal stake for US$18.1 bil.
AFPNEW YORK--Comcast Corp. agreed Tuesday to buy the remaining 49-percent stake in media and entertainment giant NBCUniversal from its joint venture partner General Electric for US$18.1 billion.
February 14, 2013, 12:36 am TWN
“This is an exciting day for Comcast as we have agreed to accelerate the purchase of NBCUniversal,” Comcast Chief Executive Brian Roberts said as the two firms announced the deal ending the joint venture created two years ago.
The deal gives Comcast full control of the NBC broadcast empire, cable networks, filmed entertainment, theme parks, regional sports networks and certain digital media properties.
The deal calls for US$16.7 million for the NBCU brand assets and another US$1.4 billion for NBC's interest in the 30 Rockefeller Center office buildings in midtown New York City and CNBC's headquarters in Englewood Cliffs, New Jersey.
The companies finalized the joint venture in January 2011, reducing GE's holding in NBCU to 49 percent from 80 percent and making Comcast the majority partner.
GE chairman and CEO Jeff Immelt said the deal “allows us to significantly increase the cash we plan to return to shareholders in 2013, to approximately US$18 billion, and to continue to invest in our industrial business.”