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Comcast takeover of NBC Universal 'imminent'

by Aaron Greenwood on Nov 3, 2009

Formal confirmation of US cable giant Comcast’s takeover of NBC Universal is expected “within the next week”, according to a report in today’s New York Times.

Current owner General Electric (GE) is expected to sell a 31% stake in the film and television conglomerate to Comcast, effectively handing control of the company to the cable television service provider. GE currently holds an 80% stake in the business.

According to the report, Comcast will contribute billions of dollars in cash and its own stable of cable networks to the venture, while GE would contribute around $12 billion in debt as it bids to sell off the rest of its interest in the company over the coming years.

Meanwhile, the NY Times report claimed that NBC Universal’s other main shareholder, Vivendi, which own a 20% stake in the company, had expressed concerns about the deal pending an official stock valuation of the company.

Vivendi is believed to be considering selling off its stake if stock prices in the company rise on confirmation of the Comcast takeover.

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