12.01.2009 03:00 PM
GE to Buy Vivendi’s Piece of NBC
FAIRFIELD, CONN: Shares of General Electric rose today as the company took a step toward divesting NBC Universal. Vivendi today said it agreed to sell its 20 percent piece of NBCU to GE for $5.8 billion, wire reports indicate. Speculation that GE is preparing to sell NBCU to Comcast has been circulating for nearly a month. Securing Vivendi’s minority stake will allow GE to sell 100 percent of the company, which includes the Peacock network, Universal Studios and cable nets that include CNBC, Bravo and the Weather Channel. Analysts have valued NBCU at around $30 billion.

A deal in which Comcast takes a 51 percent stake could be announced as soon as Thursday, The Guardian reports. It would have to pass muster, however, with federal regulators who will likely hear objections from anti-media consolidation camps. Should Comcast take NBCU, it would mark the first time a cable company--this one being the largest in the United States--would own a major broadcast network.

Shares of GE (NYSE: GE) reached more than $16.25 in today’s trading after hovering at and below $16 for several days. The wider market also saw a surge today on better-than-expected data for pending home sales and construction.

Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found

Thursday 11:07 AM
The Best Deconstruction of a 4K Shoot You'll Ever Read
With higher resolutions and larger HD screens, wide shots using very wide lenses can be a problem because they allow viewers to see that infinity doesn’t quite resolve into perfect sharpness.

Featured Articles
Discover TV Technology