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Entries in NBC Universal (4)

Wednesday
Feb132013

Comcast Buying Remaining Stake of NBCUniversal from GE

Justin Sullivan/Getty Images(NEW YORK) -- Comcast is buying the remainder of NBCUniversal from General Electric, the cable TV provider announced on Tuesday.

The price tag for GE's 49 percent stake in the entertainment giant is approximately $16.7 billion.

Two years ago, Comcast bough 51 percent of NBCUniversal.  The latest acquisition consolidates Comcast as a cable distributor and a content provider.

"This is an exciting day for Comcast as we have agreed to accelerate the purchase of NBCUniversal," Comcast Chairman and CEO Brian L. Roberts said in a statement.

"Our decision to acquire GE's ownership is driven by our sense of optimism for the future prospects of NBCUniversal and our desire to capture future value that we hope to create for our shareholders," he added.

The deal is still subject to "customary closing conditions," Comcast says, but it is expected to be finalized by the end of this year's first quarter.

Copyright 2013 ABC News Radio

Monday
Aug012011

Versus Cable Channel to Become 'NBC Sports Network'

George Doyle/Stockbyte(PHILADELPHIA) -- Cable outlet Comcast plans to bring in the new year with a new name.

The company announced Monday it will be changing the name of its Versus cable channel to reflect its merger with NBC Universal from earlier this year. Beginning January 2, 2012, Versus will be replaced by the name "NBC Sports Network."

Comcast's rebranding efforts will coincide with a primetime schedule of sporting events for the new year, beginning with the NHL Winter Classic January 2 and NBC's Sunday Night Football. The NFL playoffs start January 7 with the Wild Card round.

In January 2011, Comcast acquired a 51 percent stake in NBC Universal from General Electric Co.

Copyright 2011 ABC News Radio

Tuesday
Jan182011

FCC Approves Comcast Acquisition of NBC Universal 

Photo Courtesy - NBC (WASHINGTON) -- The FCC has approved a deal to allow Comcast Corp., one of the country's largest cable TV providers, to acquire control of NBC Universal from General Electric Company.

The joint venture, approved by the Federal Communications Commission Tuesday on a vote of four to one, will transfer control of broadcast, satellite, and other radio licenses to Comcast. The Commission said in a statement that granting the request was "in the public interest, despite concerns that the deal would be an unfair advantage over competitors and leave consumers paying higher prices."

To assuage such concerns, the FCC has said those involved must fulfill certain conditions and commitments.

"As part of the merger, Comcast-NBCU will be required to take affirmative steps to foster competition in the video marketplace," the FCC said. They will also be required to provide discounted broadband services to low-income Americans, provide more space for independently-owned channels, air more children's programming, keep NBC programming on free TV channels, and guarantee NBC news operations' independence.

The sole dissenter Tuesday, Commissioner Michael Copps, said the vote will have a drastic effect on news coverage. "Make no mistake: what is at stake here is the infrastructure for our national conversation—the very lifeblood of American democracy," Copps said. "We should be moving in precisely the opposite direction of what this Commission approves today.”

Copyright 2011 ABC News Radio

Tuesday
Jan182011

Comcast Close to Acquiring Control of NBC Universal from GE

Photo Courtesy - NBC Universal(WASHINGTON) -- Comcast Corp., one of the country's largest cable TV providers, could acquire control of NBC Universal from General Electric Co. as early as Tuesday, according to The Wall Street Journal.

The deal is pending approval from Federal Communications Commission officials, who are expected to vote four to one in its favor, people close to the review told the newspaper.  The Justice Department has already finished reviewing the proposal and is ready to approve the deal with some conditions once the FCC gives it the green light.

The Journal reports that, as part of the deal, Comcast will provide more space for independently-owned channels, air more children's programming, keep NBC programming on free TV channels, and guarantee NBC news operations' independence.

Copyright 2011 ABC News Radio