Comcast Bags The Whole Peacock

Comcast has purchased from GE the 49 percent of NBCUniversal that it does not own, giving it full control of the media conglomerate that includes the NBC Television Network, Universal Pictures, Universal Studios theme parks and a host of cable channels including USA, MSNBC, CNBC, Bravo, Syfy, E!, Telemundo, and the newly rebranded Esquire Network (formerly G4). The $16.7-billion deal comes two years before NBC's contractual option to buy GE's stake was to take effect. The New York Times reported that the deal was accelerated in part because of the clash in corporate cultures. In an interview with today's (Wednesday) Los Angeles Times, Comcast chief Brian Roberts said, This is a historic day for Comcast. In a separate interview with the NY Times, he added, It's been a very smooth couple of years, and the content continues to get more valuable with new revenue streams. In an additional $1.4 billion transaction, Comcast said that it will also buy NBC's studios and offices at 30 Rockefeller Plaza and the CNBC studios and offices in Englewood Cliffs, NJ. The deal comes with naming rights for the 80-year-old New York skyscraper once known as the RCA building, which since 1988 has sported the GE logo. Investors approved the deal. Comcast shares were up 4.39 percent to $40.68 at midday trading on the NYSE, a 52-week high, while GE shares were up 3.14 percent to $23.29, also a 52-week high.



Contactmusic

Tags: Comcast - The New York Times - The Deal - Rockefeller Plaza


Advertisement

Editors Recommendations

So, 'Dawn of the Planet of the Apes' Is Basically The Best Movie Ever, Right?

Critics are uproarious in their praise for Fox's sequel Dawn of the Planet of the Apes. The movie, which follows 2011's well received effort, focuses...

So, 'Dawn of the Planet of the Apes' Is Basically The Best Movie Ever, Right?

Cory Monteith's Father Is Still Mourning The Actor, But Thinks Lea Michele Should Move On

With the anniversary of Cory Monteith’s death approaching, his family and friends...

Cory Monteith's Father Is Still Mourning The Actor, But Thinks Lea Michele Should Move On

Beyonce And Jay Z Were Right At Home At The MetLife Stadium

Yes, hello, it’s still 2014 and Beyonce and Jay Z are still ruling over us all. On Friday night...

Jay Z  - Beyonce And Jay Z Were Right At Home At The MetLife Stadium

Jenny McCarthy Thinks Rosie O'Donnell's Return To "The View" Is Just What The Doctor Ordered

Since the first mention of Rosie O’Donnell for one of the free chairs on The View...

Jenny McCarthy Thinks Rosie O'Donnell's Return To

Jackson Family To Star In New Reality Show - But Who Is Alejandra Jackson?

Members of Michael Jackson's extended family are set to star in a new...

Jackson Family To Star In New Reality Show - But Who Is Alejandra Jackson?

Tommy Ramone, Raucous Drummer with The Ramones, Dies Aged 62

Tommy Ramone, the last surviving member of New York punk band The Ramones...

Tommy Ramone, Raucous Drummer with The Ramones, Dies Aged 62
Advertisement

Zach Braff Reignites The Shins Connection for 'Wish I Was Here'

By the time you finish reading this article you will be enlightened. You...

Zach Braff Reignites The Shins Connection for 'Wish I Was Here'

One Month Later, Tracy Morgan Is Out Of Rehab And Suing Wal-Mart For Crash

Finally, a round of good news from Tracy Morgan’s camp. The comedian, who was...

One Month Later, Tracy Morgan Is Out Of Rehab And Suing Wal-Mart For Crash

Cameron Diaz wants to travel to space

The 41-year-old actress is hoping humans will be able to permanently relocate...

Cameron Diaz - Cameron Diaz wants to travel to space


More recommendations

Advertisement

Comments

Comcast Newsletter

Subscribe to this news alert service to receive news and reviews on Comcast

Unsubscribe | Unsubscribe All