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