Morning Thrill Seekers,
Last night Comcast announced it had reached a deal with long term venture partner, General Electric (GE) to become the soul owner of NBCUniversal raising its stake from 51% to the full 100%.
The 16.7 Million deal not only includes Universal Studios and Islands of Adventure in Orlando but also NBCUniversal’s TV interests including a 32% stake in Hulu with the remaining shares held by Fox Broadcasting Company (31%), Disney-ABC Television Group (27%) and Providence Equity Partners (10%).
Comcast CEO Brian Roberts said;
This is an exciting day for Comcast as we have agreed to accelerate the purchase of NBCUniversal, The management team at GE has been a wonderful partner during the past two years and their support has been very valuable. 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.
Comcast hadn’t quite finished splashing the cash as it also bought from GE the properties it owns at 30 Rockefeller Center in Manhattan, and CNBC’s headquarters in Englewood Cliffs, New Jersey, for $1.4 billion.