Did GE sell NBC Comcast?
Did GE sell NBC Comcast?
Comcast bought 51 percent of NBC Universal in 2011 after winning antitrust approval from the Justice Department. The transaction created a $30 billion business that includes broadcast, cable networks, movie studios and theme parks.
Is NBC under GE?
The National Broadcasting Company (NBC) is an American English-language commercial broadcast television and radio network owned by Comcast. Founded in 1926 by the Radio Corporation of America (RCA), then owned by General Electric (GE), NBC is the oldest major broadcast network in the United States.
Why did GE decide to sell and why did Comcast decide to buy NBCUniversal?
Comcast CEO Brian Roberts said the decision was “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.” …
When did GE sell NBC to Comcast?
2011
The deal went through, resulting in Comcast owning 51% of the company until March 2013, when GE divested its stake to give Comcast sole ownership….Acquisition of NBC Universal by Comcast.
| The logo of Comcast since late 2012. | |
|---|---|
| NBCUniversal logo from 2004 through 2011. | |
| Completed | January 29, 2011 (majority) March 19, 2013 (full control) |
How much did Comcast pay for NBC?
On December 3, 2009, Comcast announced its intent to acquire a 51% majority stake in NBC Universal; the deal would be structured as sale of Vivendi’s stake in the company to GE for $5.8 billion, followed by Comcast paying $6.5 billion for a stake of NBC Universal, and contributing its existing media properties to the …
What year did Comcast buy NBCUniversal?
In 2011 Comcast acquired a 51 percent stake of NBCUniversal from GE; two years later Comcast bought the remaining shares.
What networks does Comcast own?
Comcast owns and operates the Xfinity residential cable communications subsidiary, Comcast Business, a commercial services provider, Xfinity Mobile, an MVNO of Verizon, over-the-air national broadcast network channels (NBC, Telemundo, TeleXitos, and Cozi TV), multiple cable-only channels (including MSNBC, CNBC, USA …
Who owns Comcast and Xfinity?
Comcast
Xfinity/Parent organizations
What is the Comcast-GE proposal for NBC Universal?
Proposal. As a result, NBC Universal would become a joint venture between Comcast and GE, with Comcast holding a 51% majority stake. The deal, as a whole, valued NBC Universal at $30 billion. The deal included an option for General Electric to sell further stakes in the company to Comcast over a seven-year period,…
What is Comcast’s deal with GE worth?
Comcast will contribute its cable networks including E!, Versus and the Golf Channel, its ten regional sports networks, and certain digital media properties, collectively valued at $7.25 billion, and make a payment to GE of approximately $6.5 billion of cash subject to certain adjustments based on various events between signing and closing.
Who will own the new Comcast-GE venture?
The new venture will be 51% owned by Comcast and 49% owned by GE. GE expects to realize $9.8 billion pre-tax in cash before debt reduction and transaction fees and after buyout of the Vivendi stake.
Does Comcast own 49% of NBC?
Comcast to Acquire General Electric’s 49% Common Equity Ownership Interest in NBCUniversal. Comcast Corporation (Nasdaq: CMCSA, CMCSK) announced today it will acquire GE’s entire 49% common equity stake in the NBCUniversal joint venture for approximately $16.7 billion.
