Comcast acquires NBC Universal, forms new company

PHILADELPHIA, PA and FAIRFIELD, CT - Comcast and General Electric have confirmed their partnership in a new media and entertainment company which will see the cable giant own two nation-wide TV networks, plus local TV stations. The joint venture will consist of the NBC Universal (NBCU) businesses and Comcast’s cable networks, regional sports networks and certain digital properties and certain unconsolidated investments. It will be 51% owned by Comcast, 49% owned by GE (which owns the majority of NBCU), and managed by Comcast. Under the terms of the transaction, GE will contribute NBCU’s businesses valued at $30 billion, including its cable networks, filmed...