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FFH
Premium
join:2002-03-03
Tavistock NJ
kudos:5

Comcast to buy out GE's share of NBC for $16.7 Billion

Comcast to buy out GE's share of NBC for $16.7 Billion. This makes Comcast sole owner of NBC.

»www.marketwatch.com/story/comcas···13-02-12

Comcast Corporation announced today it will acquire GE's entire 49% common equity stake in the NBCUniversal joint venture for approximately $16.7 billion.

Also, NBCUniversal will purchase from GE the properties used by NBCUniversal at 30 Rockefeller Plaza and CNBC's headquarters in Englewood Cliffs, NJ for approximately $1.4 billion.

The acquisition accelerates GE's divestiture ahead of a redemption period that would have begun in July 2014 and solidifies Comcast's position as a leading media and technology company. The transaction is subject to customary closing conditions and is expected to close by the end of the first quarter of this year.

The transactions will be funded with $11.4 billion of cash on hand, $4.0 billion of subsidiary senior unsecured notes to be issued to GE, $2.0 billion of borrowings under Comcast and/or subsidiary bank credit facilities and $725 million of subsidiary preferred stock to be issued to GE.

--
A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasury.

nascar91194

join:2004-02-03
Seaford, DE

Now I know why Comcast is charging for the once free DTA,s.



jack b
Gone Fishing
Premium,MVM
join:2000-09-08
Cape Cod
kudos:1

said by nascar91194:

Now I know why Comcast is charging for the once free DTA,s.

they pulled off a(nother) good one...
...flooded their markets with millions of "complimentary" DTA's to "ease the digital conversion" then start banging everybody 2 bucks a month, for each one.

How much more a month is a plain (non-DVR) HD box and outlet?
Cha-ching.
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