Official: Comcast to Acquire 51% Stake in NBC

Bloomberg today reports that in a deal valued at $37 billion, Comcast, the country's largest cable television company, will start a joint venture with NBC Universal, strengthening its push into programming.

Comcast will contribute cable channels worth over $7 billion and acquire a 51 percent stake in NBC, which means it will gain control of the USA, CNBC, MSNBC and Bravo cable channels, NBC’s broadcast networks and stations, a film studio as well as some amusement parks. On top of all that, Comcast also pay GE $6.5 billion in cash.

TechCrunch reports that the new venture will operate with three directors nominated by Comcast and two from GE. The business' head quarters will remain in New York.

Read more about the deal on Bloomberg.

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