Home / NEWS / GE agrees to $5.8bn investment in NBC U

GE agrees to $5.8bn investment in NBC U

by John Parnell on Dec 1, 2009

General Electric (GE) has agreed to pay US $5.8 billion for French media conglomerate Vivendi’s 20 percent stake in NBC Universal, according to Reuters.

Negotiations have been under way for several weeks over the value of Vivendi’s stock with the French company rumoured to have been holding out for closer to $6.1 billion.

GE currently owns the remaining 80 percent of NBC U. Its purchase of the final 20 percent is a requirement of its proposed joint venture with cable TV and internet provider, Comcast.

Reports suggest that in return for a 51 percent stake in NBC U, Comcast would pay GE $4-6 billion in cash and plus its array of cable networks.

Reuters sources state that the deal will also include further options for Comcast to purchase GE’s remaining stake in NBC U.

Comcast has long been looking for an entry into the content business. In 2004 it launched an unsolicited and ultimately unsuccessful, $54 billion bid for Disney.

FEATURED COMMENT

Please click here to comment on this article

COMMENTS


Name *
Email *
City
Country
Subject: *
Comments: *
Math Question: *
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.	Refresh the image if not clear
	Remember me on this computer