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/ 10.16.2009 12:00AM
NBC Universal 3Q Profit Up 13 Percent
FAIRFIELD, CONN.:
NBC Universal posted $732 million in profit for the three months ending Sept.
30, up 13 percent from the same quarter a year ago. Revenues, however, were
down 20 percent, from more than $5 billion a year ago to just above $4 billion
for 3Q09. NBCU parent corporation General Electric announced the results today.
NBCU’s results for the first nine months of the year were off. Revenues were
down 11 percent for the period to $11.2 billon. Profit for the segment dove 27
percent to $1.7 billion.
NBCU has been the subject of speculation regarding a sale of the unit to
Comcast. GE chief Jeffrey Immelt said in an investor’s call today that a sale
or spin-out of NBCU depends in part on what Vivendi does with it’s 20 percent
stake in the media company. Viviendi is expected to sell when its right to do
so is triggered soon. Immelt said GE was ready to do either an IPO or a
strategic partnership similar to the one it has now with Vivendi, but no
specific deal was announced.
Analysts value NBCU at around $35 billion.
More on NBCU in play:
October 1, 2009: “Comcast Shares Sink on
NBCU Speculation”
Shares of Comcast dropped around 7 percent today on speculation the cable
operator might buy NBC Universal from General Electric. Wells Fargo Marci
Ryvicker said the deal would make sense as far as the cable assets were
concerned, but the broadcast network would be a red-headed stepchild.
July 20, 2009: “NBC
Universal Profit Off 24 Percent”
The television entertainment unit of General Electric reported a profit of
$539 million for the three months ending June 30, compared to $909 million for
the same period last year, when NBCU collected $113 million from the sale of
Sundance Channel to Rainbow Media. This year, NBCU has taken one-time charges
totaling $95 million related to its investment in Ion Media, which is in
reorganization. Revenues for the unit were down 8 percent to $3.6 billion.
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Thursday 12:00AM
Broadcasters File Suit Against FCC’s Political File Rules
“The FCC decision to put the political files online will bring broadcasters into the 21st century, and will make already public information more easily accessible to everyone.” Free Press Senior Policy Counsel Corie Wright.