GE-Comcast Terms Done on NBC Universal (GE, CMCSA)

Posted: December 1, 2009 at 3:06 pm

CNBC’s David Faber just reported that the NBC Universal deal terms between General Electric Co. (NYSE: GE) and Comcast Corporation (NASDAQ: CMCSA) are about to be signed.

Faber noted that the deal will formally be announced Thursday morning.  This will take GE’s stake of NBC Universal down to 49% from 80%.  Faber reported that GE will receive $6 billion in cash and some $9 billion in debt will be taken on by the venture.

This is all on the heels of Vivendi coming to an agreement over its stake this morning.  As CNBC is part of NBC, we won’t bother throwing out the normal caveat about reports being rumors until confirmed.

One issue that may take some time is on how long the deal will take to close from regulatory reviews.  Faber has given a time frame of perhaps up to a year, although our indications are that this could be finalized in approval next summer.

JON C. OGG

Read more: Cable Companies, Entertainment, Media, Mergers and Buy Outs, ,
    • Featured Article:

    The 15 CEOs Who Should Be Paid $1 A Year

    Lee Iacocca, Chrysler’s CEO in 1979, worked for $1 a year while his company paid back taxpayers $1.2 billion in loan guarantees. Edward Liddy, former CEO of Allstate (ALL) was paid $1 a year when he stepped in to run the crumbling AIG (AIG) as the request of Henry Paulson, who was Treasury Secretary at [...]

    Read Full Story »
    Pages: 1 2 3 4