Is GE (GE) About To Sell NBC?
GE (GE) may sell its NBC Universal unit after the Beijing Olympics. So say the FT.
The paper writes “The fate of the NBC Universal entertainment unit, will be decided only after the Beijing Olympics, with executives at the US conglomerate ruling out a sale before August’s showcase event, according to people close to the situation.” Speculation is that the business could be worth $40 billion.
GE, a big industrial and financial services conglomerate, has never been a good home for NBC. Its performance has often hurt the overall results of the parent company.
A sale or public offering of the unit would have to be viewed in light of GE’s tax situation and that of its shareholders. And, the company might benefit from selling the unit off in pieces, breaking the TV assets from the studio and the stations.
Douglas A. McIntyre